Main classes

Learning objectives

• Identify the major classes of assets and liabilities to be disclosed in the statement of financial position or in the notes.L2, L3

Normative references

• IFRS 5 §38Presentation in the statement of financial position: non-current assets held for sale and the assets of a disposal group so classified are presented separately from other assets, and the liabilities of the group separately from other liabilities, without offsetting them into a single amount; the major classes of assets and liabilities are presented in the statement of financial position or in the notes (except as permitted by para. 39); any cumulative income or expense recognised in other comprehensive income relating to those items is presented separately.
• IFRS 5 §39Exemption: for a subsidiary acquired with a view to resale and classified as held for sale on acquisition (para. 11), the entity is not required to disclose the major classes of assets and liabilities.

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

2 questions

• What must be shown about the assets and liabilities of a group classified as held for sale?L2
• The Dorlan group acquires Emeric exclusively with a view to resale. Case data: from the acquisition date, Emeric meets the conditions to be classified as held for sale. What must Dorlan do about the major classes of Emeric's assets and liabilities?L3