IFRS 5

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July 11, 2018 at 10:52 am #461600

adarsh1997
Participant

Hello Chris!

One condition of IFRS 5 NCA held for sale is that the asset should be available for immediate sale in its present condition?

-What mean ‘present condition’ mean here? Does it mean economic condition?

July 12, 2018 at 4:44 pm #461890

P2-D2
Keymaster

Hi,

It essentially means that the asset could be sold there and then. So it isn’t still being used to fulfil an order for a customer, in which case it is not available for sale in its immediate condition. Also, in that no significant modifications/updates are required for it to be sold.

Thans
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