Global Standards for the world economy

Monday 22 May 2017

Banner graphic

Amendments to IFRS 5

IASB meeting summaries

 IASB July 2009



The Board continued its discussion of matters arising from responses to the exposure draft Discontinued Operations, published in September 2008, and decided tentatively:

  • that the standard (IFRS 5 Non-current Assets Held for Sale and Discontinued Operations) should continue to require an entity to present discontinued operations on the face of the statement of comprehensive income.
  • to define a discontinued operation as:
    (a) a reportable segment disposed of or classified as held for sale; or
    (b) a business that meets the criteria to be classified as held for sale on acquisition.
  • that re-exposure of these proposals is unnecessary.
  • that the staff should investigate further the disclosures requirements in US GAAP for components of an entity that have been disposed of or classified as held for sale.

Date: 7/21/2009