Scope of classification and presentation

Learning objectives

• Identify the non-current assets and disposal groups to which the classification and presentation requirements apply.L1, L2

Normative references

• IFRS 5 §2Scope: the classification, presentation and disclosure requirements apply to all recognised non-current assets and to all disposal groups; the measurement requirements also apply to them, except for the assets listed in para. 5, which continue to be measured under their own Standard.
• IFRS 5 §3An asset classified as non-current is not reclassified as current until it meets the criteria to be classified as held for sale; the same applies to an asset of a class normally regarded as non-current that is acquired exclusively with a view to resale.

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

1 question

• Four statements are made about the scope of IFRS 5. Which one is wrong?L2