Amendments to IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
The objective of this project is to develop a common definition of discontinued operations and require common disclosures related to disposals of components of an entity.
This is a joint project with the FASB. As a result, the FASB expects to amend FASB Statement No. 144, Accounting for Impairment or Disposal of Long-Lived Assets.
Where are we now?
The project, commenced in 2008, is in Stage 4: Developing and Publishing the Exposure Draft of the IASB Due Process.
An Exposure Draft to amend IFRS 5 was published in September 2008 and is open for public comment until 23 January 2009.
Further information