IFRS 5 - Non current assets held for sale and discountiued operations

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5 Terms

1
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Whats the overview?

provides guidance on accounting - non-current assets and discontinued operations

2
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What’s the purpose?

to ensure accurate presentation of financial performance by excluding items that are distorted by trends

3
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Whats non-current assets are held for sale?

Assets no longer used in operations that are available for immediate sale and expected to be sold within a year.

4
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Whats discontinued operations?

Parts of business disposed of or held for sale.

5
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Statement of comprehensive income

Gross Profit

(-) expenses

= profit from continuing operations

± p/l from discontinued operations

=Total profit for the year