Page 27 - 2018 FAC4864 Test 4 slides - Borrowing Costs & IFRS 5

NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS

Outcomes

• Identify the purpose and scope of IFRS 5.

• Define the definitions.

• Apply the criteria to identify a non-current asset or disposal group as
held for sale.

• Apply the first measurement rule of IFRS 5 to individual non-current
assets and disposal groups to determine the carrying amounts of
individual non-current assets or disposal groups immediately after being

classified as held for sale.

• Apply the measurement requirements of IFRS 5 to individual non-
current assets and disposal groups to determine the fair value less costs
to sell of individual non-current assets or disposal groups classified as
held for sale.

• Calculate the impairment loss arising on initial classification as held for
sale for an individual non-current asset or disposal group and allocate
the impairment loss according to the rules contained in IFRS 5.

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