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Can you please assist me with this issue. If a parent owns a subsidiary that it was consolidating over the years, but has now decided to sell it, it was classified as a discontinued operations under ifrs 5, but at year end it was still not sold, do we still consolidate the subsidiary at year end or do we just consolidate up to the period before it was classified as a discontinue operations?
If it meets the Held For Sale criteria.
1. You still include 100% of assets and liabilities.
2. Instead of adding assets etc line by line you present the assets of the subsidiary as a SINGLE LINE under current assets. (Similarly you’ll have a single line for liabilities.)
3. In P&L a single line showing PAT of subsidiary, then NCI as normal.