• Register
Search Questions / Answers

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login in few seconds

Get AccountantAnswer App


Non current assets held for sale can be depreciated according to any of the three methods of depreciation. On IFRS5 Financial accounting 201 for non current assets held for sale. I would like to know if my question  its true or false?
in General IFRS Discussion by

3 Answers

0 votes

IFRS 5 Non-current Assets Held for Sale and Discontinued Operations outlines how to account for non-current assets held for sale (or for distribution to owners). In general terms, assets (or disposal groups) held for sale are not depreciated, are measured at the lower of carrying amount and fair value less costs to sell, and are presented separately in the statement of financial position. Specific disclosures are also required for discontinued operations and disposals of non-current assets.
by Level 2 Member (4.3k points)
Yeah that's  correct.
As they are no longer held for use, depreciation  should not be charged on these assets.
That's correct.
0 votes
False. Once an asset is classified as NCA Held For Sale it is no longer depreciated.
0 votes
According to ifrs 5, NCA held for sale cannot be depreciated. Even if its being used