Welcome to the website of the IFRS Foundation and the IASB

Sunday 26 October 2014

Banner graphic

IASB meeting summaries


 IASB July 2008


 

The Board tentatively decided that:

  • the definition of discontinued operations should include businesses (as defined in IFRS 3 Business Combinations that meet the criteria to be classified as held for sale on acquisition. However, that definition should not include an additional criterion that disposal is required by law or regulation.
  • various disclosure exemptions should be provided for businesses that meet the criteria to be classified as held for sale on acquisition.
  • that an entity should provide reconciliations:

(a) from the amounts disclosed in the notes for major income and expense items to the post-tax profit or loss presented in the statement of comprehensive income

(b) from the amounts disclosed in the notes for major classes of the assets (liabilities) held for sale to the assets (liabilities) presented in the statement of financial position.

Date: 7/22/2008