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Sorry Ma’am don’t get annoyed, am close to getting this concept right, last time on HFS:
if a disposal grp(DG) meets criteria as HFS per yr end, and gets “SOLD” after yr end but before FSs are authorised for issue then that can almost affect the carrying amount of DG(where FV less costs to sell is much lower than amt at which it is carried at in FSs) but will not lead to complete removal of DG from FSs, right? I mean even at the year end DG assets liabilities will be classified as current assets and current labilities respectively among other things….
And could you provide a brief explanation as to why it doesn’t lead to complete removal?
Sale after the y/e may provide additional, but unnecessary, evidence that it was held-for-sale at the reporting date – it’s unnecessary because the criteria for recognition as HFS must be met/demonstrated/evidenced AS AT the reporting date.
The sale DE FACTO is after the reporting date – you cannot recognise the sale in the current year any more that you could recognise sales of goods in January 2021 as if they had been made in 2020.
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