IFRS 5 – Non-current Assets Held for Sale and Discontinued Operations

5 Presentation and disclosure – Assets held for sale

An entity shall present a non-current asset classified as held for sale and the assets of a disposal group classified as held for sale separately from other assets in the statement of financial position.

1. The liabilities of a disposal group classified as held for sale shall be presented separately from other liabilities in the statement of financial position.
2. Those assets and liabilities shall not be offset and presented as a single amount.
3. The major classes of assets and liabilities classified as held for sale shall be separately disclosed either in the statement of financial position or in the notes
4. An entity shall present separately any cumulative income or expense recognised in other comprehensive income relating to a non-current asset (or disposal group) classified as held for sale.
5. Any gain or loss on the remeasurement of a non-current asset (or disposal group) classified as held for sale that does not meet the definition of a discontinued operation shall be included in profit or loss from continuing operations.

Additional disclosures

An entity shall disclose the following information in the notes in the period in which a non-current asset (or disposal group) has been either classified as held for sale or sold:

1. a description of the non-current asset (or disposal group);
2. a description of the facts and circumstances of the sale, or leading to the expected disposal, and the expected manner and timing of that disposal;
3. the gain or loss related to impairment losses or reversals, if not separately presented in the statement of comprehensive income then reference to the caption in the statement of comprehensive income that includes that gain or loss;
4. if applicable, the reportable segment in which the non-current asset (or disposal group) is presented in accordance with IFRS 8 Operating Segments.

An entity shall disclose, in the period of the decision to change the plan to sell the non-current asset (or disposal group), a description of the facts and circumstances leading to the decision and the effect of the decision on the results of operations for the period and any prior periods presented.