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If an asset under ias38 is disposed, does it automatically classified under ifrs5 nca held for sale? Can you pls explain a little bit in details on the linked between this two
Only if. at the year end, it meets the conditions for HFS – i.e. active plan to sell etc
If it is disposed of then no need of classifying it as held for sale. Just write it off.
However for it to be classified as held for sale, the conditions for classification under IFRS 5 would have to be met.
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