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Disposal

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Disposal

  • This topic has 3 replies, 3 voices, and was last updated 2 years ago by Stephen Widberg.
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  • February 14, 2020 at 6:24 pm #561869
    mirliz
    • Topics: 28
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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

    February 15, 2020 at 7:39 am #561909
    Stephen Widberg
    Moderator
    • Topics: 11
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    Only if. at the year end, it meets the conditions for HFS – i.e. active plan to sell etc

    February 16, 2020 at 7:56 pm #562045
    hanningtonsserwadda
    • Topics: 27
    • Replies: 20
    • ☆

    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.

    February 17, 2020 at 2:39 pm #562109
    Stephen Widberg
    Moderator
    • Topics: 11
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    • ☆☆☆☆☆

    Perfect

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