Non-current Assets Held for Sale and Discontinued Operations This version includes amendments resulting from IFRSs issued up to 17 January 2008. IAS 35 Discontinuing Operations was issued by the International Accounting Standards Committee in June 1998. In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. In March 2004 the IASB issued IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, which replaced IAS 35. IFRS 5 and its accompanying documents have been amended by the following IFRSs: •. | IFRS 5 International Financial Reporting Standard 5 Non-current Assets Held for Sale and Discontinued Operations This version includes amendments resulting from IFRSs issued up to 17 January 2008. IAS 35 Discontinuing Operations was issued by the International Accounting Standards Committee in June 1998. In April 2001 the International Accounting Standards Board IASB resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. In March 2004 the IASB issued IFRS 5 Non-current Assets Held for Sale and Discontinued Operations which replaced IAS 35. IFRS 5 and its accompanying documents have been amended by the following IFRSs IFRS 8 Operating Segments issued November 2006 IAS 1 Presentation of Financial Statements as revised in September 2007 IFRS 3 Business Combinations as revised in 2008 IAS 27 Consolidated and Separate Financial Statements as amended in 2008 . IASCF 665 IFRS 5 Contents paragraphs INTRODUCTION IN1-IN6 INTERNATIONAL FINANCIAL REPORTING STANDARD 5 NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS OBJECTIVE 1 SCOPE 2-5 CLASSIFICATION OF NON-CURRENT ASSETS OR DISPOSAL GROUPS AS HELD FOR SALE 6-14 Non-current assets that are to be abandoned 13-14 MEASUREMENT OF NON-CURRENT ASSETS OR DISPOSAL GROUPS CLASSIFIED AS HELD FOR SALE 15-29 Measurement of a non-current asset or disposal group 15-19 Recognition of impairment losses and reversals 20-25 Changes to a plan of sale 26-29 PRESENTATION AND DISCLOSURE 30-42 Presenting discontinued operations 31-36 Gains or losses relating to continuing operations 37 Presentation of a non-current asset or disposal group classified as held for sale 38-40 Additional disclosures 41-42 TRANSITIONAL PROVISIONS 43 EFFECTIVE DATE 44 WITHDRAWAL OF IAS 35 45 APPENDICES A Defined terms B Application supplement Extension of the period required to complete a sale C Amendments to other IFRSs APPROVAL OF IFRS 5 BY THE BOARD .
