Purpose of the standard

Learning objectives

• Explain the objective of the Standard: measurement and presentation of assets held for sale, and disclosure of discontinued operations.L1

Normative references

• IFRS 5 §1Objective: to specify the accounting for assets held for sale (measurement at the lower of carrying amount and fair value less costs to sell, cessation of depreciation, separate presentation in the statement of financial position) and the presentation of discontinued operations.

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

1 question

• IFRS 5 deals only with the sale of entire businesses: the sale of a single asset falls outside its objective.L1