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Assets held for sale and discontinued operations — A guide to IFRS 5

Published on: 26 Mar 2008

In March 2008, the Deloitte IFRS Global Office published Assets held for sale and discontinued operations — A guide to IFRS 5.

Since issuance of IFRS 5 in 2004, a number of practical issues have arisen in its application – principally because the guidance in the Standard is not always clear as to how certain transactions should be accounted for and how the requirements of IFRS 5 interact with those of other Standards.

This guide, in addition to providing detailed summaries and explanations of the requirements of IFRS 5, includes supplementary guidance and examples based on Deloitte's experience with the Standard. It summarises the latest IFRS thinking and the evolving literature – including on issues such as partial disposals of subsidiaries, and the impact of the disclosure requirements of other Standards. Appendices provide a comparison with US GAAP and a checklist of IFRS 5's presentation and disclosure requirements.

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