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Operating Lease and Asset Held for Sale!

This topic has 1 reply, 2 voices, and was last updated 6 years ago by hjwicks.

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June 12, 2019 at 12:11 pm #520284
anaros
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- Topics: 1
- Replies: 0
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!
June 26, 2019 at 9:16 am #521339
hjwicks
Member
- Topics: 2
- Replies: 7
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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