Hi Sir,
There is something i'm not quite sure if i've well understood. If a machine qualifies as held for sale on 30 september 2010 and the financial year end on 31 december 2010. Do we have to depreciate the machine for the month 1 January to 30 september ?
Ask the Tutor ACCA FR
IFRS 5
2y ago#1Hi,
Yes, you would need to depreciate the asset as normal up until the date it is classified as HFS. We would therefore need to charge the 9 months of depreciation until 30 September.
Thanks
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