IFRS 5 Flashcards
1
Q
What is a discontinued activity or operation under IFRS 5?
A
It’s a component of the entity that ceased during the period or its classified as a disposal group held for sale, and it’s a separate major line of business or an area of geographic activity
2
Q
What are the criteria to be Held For Sale
A
MAPS
MANAGEMENT is committed to the sale
The ASSET is available for immediate sale in its current condition
Has the PRICE been agreed
Will the SALE be completed with 12 months
