Notes on assets held for sale

Learning objectives

• Identify the note disclosures for an asset or disposal group held for sale: description, facts and circumstances, gains or losses recognised, segment.L3, L4

Normative references

• IFRS 5 §41Note disclosures for the period of classification or sale: (a) a description of the asset or disposal group; (b) the facts and circumstances of the sale, or leading to the expected disposal, and the expected manner and timing of that disposal; (c) the gain or loss recognised in accordance with paras 20 to 22 and, if not presented separately, the caption in the statement of comprehensive income that includes it; (d) if applicable, the reportable segment (IFRS 8).
• IFRS 5 §42When para. 26 or para. 29 applies, the entity discloses, for the period in which the decision to change the plan to sell is taken, the facts and circumstances leading to that decision and its effect on the results of operations for that period and any prior periods presented.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• A group is classified as held for sale at the closing. Which of these items are among those required in the notes? More than one answer.L3