Hello,
Can I classify an asset as held for sale according to IFRS 5 but also give it under operating lease.... So until I find a buyer for my asset I will earn rentals from it....Is it in line with IFRS 5?
Thank you in advance!
ACCA Forums
General ACCAOperating Lease and Asset Held for Sale!
My understanding is that you cannot, as the requirements for classifying an asset as held for sale include that it is ready for sale. If it is leased out to another party, it is not ready for sale.
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