hkfrs5 non-current asset held for sale and discontinued operations

Hkfrs5 non-current asset held for sale and discontinued operations

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Unformatted text preview: Non-current Assets Held for Sale and Discontinued Operations Hong Kong Financial Reporting Standard 5 HKFRS 5 Revised May 2009 February 2010 Effective for annual periods beginning on or after 1 January 2005 HKFRS 5 © Copyright 2 COPYRIGHT © Copyright 2008 Hong Kong Institute of Certified Public Accountants This Hong Kong Financial Reporting Standard contains International Accounting Standards Committee Foundation copyright material. Reproduction within Hong Kong in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source. Requests and inquiries concerning reproduction and rights for commercial purposes within Hong Kong should be addressed to the Director, Operation and Finance, Hong Kong Institute of Certified Public Accountants, 37/F., Wu Chung House, 213 Queen's Road East, Wanchai, Hong Kong. All rights in this material outside of Hong Kong are reserved by International Accounting Standards Committee Foundation. Reproduction of Hong Kong Financial Reporting Standards outside of Hong Kong in unaltered form (retaining this notice) is permitted for personal and non-commercial use only. Further information and requests for authorisation to reproduce for commercial purposes outside Hong Kong should be addressed to the International Accounting Standards Committee Foundation at www.iasb.org . HKFRS 5 (December 2007 February 2010 ) © Copyright 3 CONTENTS paragraphs INTRODUCTION IN1-IN6 HONG KONG FINANCIAL REPORTING STANDARD 5 NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS OBJECTIVE 1 SCOPE 2-5B CLASSIFICATION OF NON-CURRENT ASSETS (OR DISPOSAL GROUPS) AS HELD FOR SALE OR AS HELD FOR DISTRIBUTION TO OWNERS 6-14 Non-current assets that are to be abandoned 13-14 MEASUREMENT OF NON-CURRENT ASSETS (OR DISPOSAL GROUPS) CLASSIFIED AS HELD FOR SALE 15-29 Measurement of a non-current asset (or disposal group) 15-19 Recognition of impairment losses and reversals 20-25 Changes to a plan of sale 26-29 PRESENTATION AND DISCLOSURE 30-42 Presenting discontinued operations 31-36A Gains or losses relating to continuing operations 37 Presentation of a non-current asset or disposal group classified as held for sale 38-40 Additional disclosures 41-42 TRANSITIONAL PROVISIONS 43 EFFECTIVE DATE 44-44E WITHDRAWAL OF SSAP 33 45 APPENDICES A Defined terms B Application supplement Extension of the period required to complete a sale C Amendments to other HKFRSs D Comparison with International Financial Reporting Standards E Amendments resulting from other HKFRSs HKFRS 5 (August 2004 February 2010 ) © Copyright 4 BASIS FOR CONCLUSIONS DISSENTING OPINIONS IMPLEMENTATION GUIDANCE Hong Kong Financial Reporting Standard 5 Non-current Assets Held for Sale and Discontinued Operations (HKFRS 5) is set out in paragraphs 1-45 and Appendices A-C and E . All the paragraphs have equal authority....
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Hkfrs5 non-current asset held for sale and discontinued operations

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