IFRS05 BV2009 - IFRS 5 International Financial Reporting...

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IFRS 5 International Financial Reporting Standard 5 Non-current Assets Held for Sale and Discontinued Operations This version includes amendments resulting from IFRSs issued up to 31 December 2008. IAS 35 Discontinuing Operations was issued by the International Accounting Standards Committee in June 1998. In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. In March 2004 the IASB issued IFRS 5 Non-current Assets Held for Sale and Discontinued Operations , which replaced IAS 35. IFRS 5 and its accompanying documents have been amended by the following IFRSs: IFRS 8 Operating Segments (issued November 2006) 1 IAS 1 Presentation of Financial Statements (as revised in September 2007) 2 IFRS 3 Business Combinations (as revised in 2008) 3 IAS 27 Consolidated and Separate Financial Statements (as amended in 2008) 4 Improvements to IFRSs (issued May 2008) 5 IFRIC 17 Distributions of Non-cash Assets to Owners (issued November 2008). 6 1 effective date 1 January 2009 2 effective date 1 January 2009 3 effective date 1 July 2009 4 effective date 1 July 2009 5 effective date 1 July 2009 6 effective date 1 July 2009 © IASCF 1
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IFRS 5 C ONTENTS paragraphs INTRODUCTION IN1–IN6 INTERNATIONAL FINANCIAL REPORTING STANDARD 5 NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS OBJECTIVE 1 SCOPE 2–5A 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 44–44D WITHDRAWAL OF IAS 35 45 APPENDICES A Defined terms B Application supplement Extension of the period required to complete a sale C Amendments to other IFRSs APPROVAL BY THE BOARD OF IFRS 5 ISSUED IN MARCH 2004 BASIS FOR CONCLUSIONS DISSENTING OPINIONS IMPLEMENTATION GUIDANCE 2 © IASCF
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IFRS 5 International Financial Reporting Standard 5 Non-current Assets Held for Sale and Discontinued Operations (IFRS 5) is set out in paragraphs 1–45 and Appendices A–C. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Terms defined in Appendix A are in italics the first time they appear in the Standard. Definitions of other terms are given in the Glossary for International Financial Reporting Standards. IFRS 5 should be read in the context
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IFRS05 BV2009 - IFRS 5 International Financial Reporting...

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