IFRS 5 — Definition of 'discontinued operations'
In their joint project on financial statement presentation, the IASB and FASB decided to develop a common definition of discontinued operations and require common disclosures about components of an entity that have been (or will be) disposed of. In order to avoid delay, the boards decided to address these issues separately from the financial statement presentation project.
Accordingly, the goal of this project is to amplify the definition of a discontinued operation in IFRS 5 Non-current Assets Held for Sale and Discontinued Operations.
Current status of the project
This project is currently paused.
|April 2007||Added to the IASB's active agenda|
|25 September 2008||Exposure Draft Discontinued Operations - Proposed amendments to IFRS 5 issued||Comment deadline 23 January 2009|