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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.


Project milestones

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


Related Discussions

  • Technical plan

  • Nov 17, 2010

  • The IASB and FASB briefly discussed the timing of each of the Memorandum of Understanding (MOU) joint projects in preparation for the intended issue of an updated technical plan. Three projects were discussed in detail: financial instruments, discontinued operations and the Conceptual Framework.