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Questions in IFRS 5 – Non-current asset as held for sale

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › Questions in IFRS 5 – Non-current asset as held for sale

  • This topic has 0 replies, 1 voice, and was last updated 8 years ago by Tung.
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  • September 28, 2016 at 2:56 am #341913
    Tung
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    • Topics: 2
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    • ☆

    My question is:

    1/ Asset held for sales is not allowed to be depreciated. What if we buy a group or non-current asset and classify as held for sales (assume with the intention to sell within 1 year and already locate a buyer), but we still use it during that 1 year, then the value of that asset used in 1 year is not decreased (no depreciation charge)?

    2/ When we classify a group as held for sale, all the criteria for IFRS need to meet within 3 months, except for the criteria that sales is highly probable (within 12 months)?

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