Assets presented separately

Learning objectives

• Identify the separate presentation of assets and liabilities held for sale in the statement of financial position.L1, L2

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.

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

2 questions

• An asset classified as held for sale stays presented among property, plant and equipment in the statement of financial position.L1
• How is a group classified as held for sale presented in the statement of financial position, on the assets side?L2