IFRS 5, Non-current Assets Held for Sale and Discontinued Operations

Mazars Insight IFRS 5 - 2009

Practical guide to application and expected changes

IFRS 5, Non-current Assets Held for Sale and Discontinued Operations, was published to achieve convergence with US GAAP and represented a significant change for many companies.

This recent standard - effective from 1 January 2005 - has raised a lot of practical questions as to its implementation, particularly given the non-recurrent nature of operations falling within its scope.

The objective of this brochure is both to review the principles underlying IFRS 5 and to clarify the main points with examples and practical situations. We also discuss current IASB / IFRIC debates and the expected amendments to IFRS 5, in particular in the course of the IASB's annual improvements process.

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