A detailed discussion of the principles of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

  • Presenter: Anton van Wyk CA(SA)
  • Level: Intermediate
  • Study time: 3 hours
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Course overview
What happens when an entity makes the decision to, principally, recover the carrying amount of a non-current asset through disposal rather than through continued use? In other words, what are the accounting considerations to note when the entity changes the originally intended purpose of a non-current asset from use to sale?

The following questions usually arise among accountants, in this situation:
  • At what point is such non-current asset deemed to be “held for sale”?
  • What are the accounting reclassifications that should be affected at that point?
  • How does the measurement of non-current assets held for sale differ from current assets that are not held for sale, especially where the latter are already measured at revalued amounts?
  • What are the measurement implications of non-current assets held for sale at initial reclassification and subsequent thereto?
  • What are the deferred tax consequences of reclassifying a non-current asset from recovered through use, to recovered through disposal, if any?
  • What if a group of assets are disposed of together in one single transaction and such ‘disposal group’ is regarded to be so significant that it represents a segment of the entity that is now a ‘discontinued operation’?

If these questions leave you somewhat stumped or even just curious, please do consider joining Anton van Wyk CA(SA) for this highly informative on-demand short course clarifying the most important underlying principles contained in IFRS 5 Non-current Assets Held for Sale and Discontinued Operations.

In completing this course, you will have developed the professional competencies listed in the green block below.

What's included?

  • 1 Explanatory video
  • 1 Slide deck
  • 1 Quiz
  • 1 Certificate of completion

Alignment to the SAICA Competency Framework