IFRS-5 Assets Held for Sale Flashcards Preview

ACCA - P2 > IFRS-5 Assets Held for Sale > Flashcards

Flashcards in IFRS-5 Assets Held for Sale Deck (3)
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1
Q

Definition

A

Where an NCA’s CV will be recovered principally through sale rather than continuing use.

2
Q

Conditions (3)

A

APT:
Available for sale in present condition
Probable
Twelve months sale after classification

3
Q

How can this be manipulated?

A
  • Probable is subjective