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Non current assets held for sale can be depreciated according to any of the three methods of depreciation


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?

asked May 12 in General IFRS Discussion by anonymous

2 Answers

0 votes
NO


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.
answered May 12 by MHAGIG Level 2 Member (4,000 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.
answered Jul 13 by anonymous


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