applied IFRS 5, subject to the transitional provisions in paragraph 45 of IAS 27 (amended May 2008). No results have been found. FRS 3 differs from IFRS 5. iGAAP 2019: A guide to IFRS reporting (Volume A) Deloitte, Croner-i, 2019 Deloitte IFRS Podcast on IFRS 10 Consolidation. Specialised activities (agriculture) 2 More. ACTIVELE PE TERMEN LUNG DETINUTE PENTRU VANZARE SI ACTIVITATILE INTRERUPTE INTRODUCERE Motivatiile emiterii prezentului IFRS IN1 IFRS 5 stabileste cerintele de clasificare, evaluare si prezentare a activelor pe termen lung detinute pentru vanzare si inlocuieste IAS 35 „Activitati in curs de The International Financial Reporting Standards Foundation is a not-for-profit corporation incorporated in the State of Delaware, United States of America, with the Delaware Division of Companies (file no: 3353113), and is registered as an overseas company in England and Wales (reg no: FC023235). 5. Deloitte Guidance. Read the report to learn more. Examples and other materials in the learning units are solely for illustrative purposes and should not be relied upon for technical answers or as the Deloitte opinion on technical issues. Interesting . IFRS for SMEs at a glance These documents have been compiled to assist in gaining a high level overview of the International Financial Reporting Standard for Small and Medium-sized Entities. IFRS 5 Non-Current assets held for sale and Discontinued operations – Summary. IFRS 5, Non-current Assets Held for Sale and Discontinued Operations, was published to achieve convergence with US GAAP and represented a significant change for many companies. It summarises the latest IFRS thinking and the evolving literature – including on issues such as partial disposals of subsidiaries, and the impact of the disclosure requirements of other Standards. In particular, the IFRS 5 requires: assets that meet the criteria to be classified as held for sale to be presented separately in thestatement of financial position and the results ofdiscontinued operations to be presentedseparately in the statement of comprehensiveincome. Volume B - UK Reporting - FRS 102 Model annual report and financial statements for UK … Model IFRS statements These are illustrative IFRS financial statements of a listed company, prepared in accordance with International Financial Reporting Standards. 1 Deloitte earning Academy ourse catalogue or accounting proessionals The Deloitte Learning Academy Website Annual Membership An annual membership to the Deloitte Learning Academy includes: • Unlimited access to all e-courses: Our e-courses cover Canadian financial reporting topics on International Financial Reporting Standards, Accounting Standards for Private Entities, Accounting … No results have been found. 44D: Paragraphs 5A, 12A and 15A were added and paragraph 8 was amended by IFRIC 17 Distributions of Non- cash Assets to Owners in November 2008. Share of the profit and loss of associates and joint ventures accounted for using the equity method. IFRS 15 Revenue from Contracts with Customers — Your Questions Answered. 5 Deloitte earning Academy ourse catalogue or accounting proessionals Objective This e-learning unit is designed to provide an overview of the differences in accounting for goodwill and Appendices provide a comparison with US GAAP and a checklist of IFRS 5's presentation and disclosure requirements. Investments in associates: 1 1 1 Investments in joint ventures (IFRS 11) 1 1 1 Related-party transactions: 1: Similar definitions and disclosures. In this interview, Robert speaks with Phil Barden, a Partner in the Deloitte UK IFRS Centre of Excellence, and Amy Haworth, a Senior Manager in the Deloitte UK IFRS Centre of Excellence. The Deloitte IFRS Global Office has published an IAS Plus Guide to IFRS 5 Assets Held for Sale and Dis­con­tin­ued Op­er­a­tions. What's New. Welcome to the IFRS 5 Non-current Assets Held for Sale and Discontinued Operations e-learning module. 4. 5. IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations | DART – Deloitte Accounting Research Tool IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations You must log in to view this content and have a subscription package that includes this content. IFRS 10 Consolidated Financial Statements – Summary IFRS 15 refers to a performance obligation as a promised good or service \(i.e., promise in a contract\) that is distinct. Disposal group is a new concept introduced by IFRS 5 and it represents a group of assets and liabilities to be disposed of together as a group in a single transaction.. For example, when a company runs a few divisions and decides to sell one division, then all assets (including PPE, inventories, deferred tax, etc.) Those amendments shall be applied prospectively to non-current : Deloitte Solutions. Deloitte has developed high quality e-learning modules on IFRS to help users develop their knowledge and application of the basic principles and concepts of the IFRSs and IASs. Those amendments shall be applied prospectively to non-current : assets (or disposal groups) that are classified as held for distribution to … Volume B - Financial Instruments - IFRS 9 and related Standards, Volume C - Financial Instruments - IAS 39 and related Standards, Model financial statements for IFRS reporters, IFRS Standards (linked to Deloitte accounting guidance), International Financial Reporting Standards (linked to Deloitte accounting guidance), International Financial Reporting Standards (Blue and Red Books), IFRS Educational Material (including Webcasts and Podcasts), Selected IASB Speeches, Statements and Press Releases, Purpose-driven Business Reporting in Focus, Copyright notice and disclaimer of liability, International Financial Reporting Standards, IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations, Guidance on implementing IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. 'Non-current Assets Held For Sale and Discontinued Operations - Challenges in Applying IFRS 5' is a publication by the IFRS team at Grant Thornton International Ltd. IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (IFRS 5) is not a new standard but experience has shown that implementing it can be a complex and time-consuming exercise. applied IFRS 5, subject to the transitional provisions in paragraph 45 of IAS 27 (amended May 2008). Educational. Deloitte’s model of IFRS 16 financial statements. COVID-19 supplement (PDF 2.5 MB) IFRS 12 supplement (PDF 1.2 KB) IFRS 15 supplement (PDF 1.5 MB) IFRS 16 supplement (PDF 1.8 MB) Annual Disclosure checklists: 2020 edition (PDF 2.5 MB) 2019 edition (PDF 2.6 MB) 2018 edition (PDF 1.9 MB) Interim Illustrative disclosures: 2020 edition (PDF 2.5 MB) 2019 edition (PDF 2 MB) 2018 edition (PDF 2 MB) Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox. Deloitte IFRS Podcast on IFRS 10 Consolidation. Join us for a celebration of 175 years of making an impact that matters. Skip to the content. Deloitte has developed high quality e-learning modules on IFRS to help users develop their knowledge and application of the basic principles and concepts of the IFRS's and IAS's. Deloitte’s IAS Plus (www.iasplus.com) is one of the most comprehensive sources of global financial reporting news on the Web. ED/2020/4, Lease Liability in a Sale and Leaseback — Proposed amendment to IFRS 16 DP/2020/2, Business Combinations under Common Control PTU/2020/5 General Improvements and Common Practice — IAS 19 Employee Benefits PTU/2020/4 General Improvements and Common Practice — Presentation of information in primary financial statements PTU/2020/3 Interest Rate Benchmark … IFRS 9 Financial Instruments (excluding Hedge Accounting) – Snapshot . You cannot apply it is a group has stopped working due to any ban from the government. IFRS 5 Non-cash Assets Held for Sale and Discontinued Operations The Board has not undertaken any specific implementation support activities relating to this Standard. Segment disclosures 99 8.3. Deloitte 175. When a group of assets is being disposed of in a single transaction, the classification and presentation requirements of IFRS 5 apply to the disposal group as a whole. What's New. Disclosures 98 8.1. Legal and regulatory FRS 102 IFRS Standards Deloitte Newsletters Help. IFRS 5 requires information about discontinued operations to be presented in the financial statements. Audit Risk & the Auditor’s Response – ACCA AA ( OLD F8 ) … 44D: Paragraphs 5A, 12A and 15A were added and paragraph 8 was amended by IFRIC 17 Distributions of Non- cash Assets to Owners in November 2008. Other reporting issues 93 7.1. Cash flow statement 96 8. The IFRS Interpretations Committee has previously considered a number of relevant issues that have been submitted by stakeholders. IFRS Standards around the world 5 The IFRS Foundation and the IASB 7 Standards and Interpretations 15 Standards and Interpretations 24 Summaries of Standards and Interpretations in effect at 1 January 2019 29 Requirements that are not yet mandatory 100 IASB projects 104 Deloitte IFRS resources 111 Contacts 113 Contents. Please read, IAS Plus Guide to IFRS 5 Assets Held for Sale and Discontinued Operations. Services. Functional and presentation currency 93 7.2. The price of the building has been fixed at $4m and a surveyor has valued the building based on market prices at $3.6m. By using this site you agree to our use of cookies. Since issuance of IFRS 5 in 2004, various practical application issues have arisen – principally because the guidance in the Standard is not always clear as to how certain transactions should be accounted for and how the requirements of IFRS 5 interact with those of other Standards. They discuss the key changes that are proposed and provide insights into the likely effect they will have in practice. Funny. Revenue and lease income 98 8.2. How should a promised good or service be identified? Current and non-current assets, and current and non-current liabilities, are presented as separate classifications in the statement, unless presentation based on liquidity provides information that is reliable and more relevant. Skip to the content. The ICAEW Library stocks the latest IFRS handbooks and manuals. ACCA P5 APM Short Study Notes. Sale of property under construction 89 7. Copyright © 2020 Deloitte Development LLC. It specifies the accounting treatment for assets (or disposal groups) held for sale, and 2. 6.5 IFRS 9 Financial Instruments (2009) 201 6.6 IFRS 9 Financial Instruments (own credit requirements) 219 6.7 Classification and Measurement of . 1: Similar definitions and disclosures. (Visited 547 times, 1 visits today) You May also Like. Search Close search See all results in Search Page. EY Homepage. 1: Similar definitions and disclosures. Learn more about Deloitte IFRS e-learning. For example, in the European Union, companies with publicly traded shares or debt on a European exchange must use IFRS for financial reporting for year ends. It is a central repository for information about International Financial Reporting Standards (IFRSs) as well as the activities of the … 5. Please contact the IFRS® Foundation for details of countries where its trade marks are in use and/or have been registered. IFRS 5 Non-current Assets held for Sale and Discontinued Operations Accounting summary 2017 - 04 1 Objective The objective of this IFRS is to specify the accounting for assets held for sale, and the presentation and disclosure of discontinued operations. Additionally, the entity is planning to sell part of its b… The Deloitte IFRS Global Office has published an IAS Plus Guide to IFRS 5 Assets Held for Sale and Discontinued Operations. FRS 102. Love. 11 . iv. These illustrative IFRS financial statements are intended to be used as a source of general technical reference, as they show suggested disclosures together with their sources. Deloitte models what financial statements would look like for companies under IFRS 16 in this appendix to the … IFRS Standards (linked to Deloitte accounting guidance) International Financial Reporting Standards (linked to Deloitte accounting guidance) International Financial Reporting Standards . Identifying Performance Obligations. This Deloitte e-learning module provides training in the background, scope and principles under IFRS 5 'Non-current Assets Held for Sale and Discontinued Operations', and the application of this Standard. IFRS 5 focuses on two main areas: 1. They discuss the key changes that are proposed and provide insights into the likely effect they will have in practice. IFRS 5 achieves sub­stan­tial con­ver­gence with the re­quire­ments of US SFAS 144 Accounting for the Im­pair­ment or Disposal of Long-Lived Assets with respect to the timing of the clas­si­fi­ca­tion of op­er­a­tions as dis­con­tin­ued op­er­a­tions and the pre­sen­ta­tion of such op­er­a­tions. The same applies for a disposal group. Technical resources on the International Financial Reporting Standards (IFRS) – get started now with practical guidance, latest thinking and tools. Then, to the other non-current assets pro rata on the basis of their carrying amounts. Climate & sustainability. Download link: Deloitte IFRS/IAS 2017 Deloitte IAS IFRS Summary Reviewed by Editor on November 15, 2018 Rating: 5 Tags : Deloitte IAS IFRS Summary 2018 KPMG 2018 IFRS Update Randall Sogoloff, Leader for Communications in the Deloitte IFRS Global Office, discusses the IASB's standard on Consolidation with Robert Bruce. Welcome to the IFRS 5 Non-current Assets Held for Sale and Discontinued Operations e-learning module This module covers the background, scope and principles under IFRS 5 Non-current Assets Held for Sale and Discontinued Operations and the application of this Standard. Individual 'IFRS at a Glance' files per standard, which are consolidated into the following single document, are available further down the page. Legal and Regulatory Requirements. The IASB published a new standard, IFRS 17 'Insurance Contracts' on Thursday 18 May. with Section 5.5 of IFRS 9. IFRS 5 Guide 'Non-current Assets Held For Sale and Discontinued Operations - Challenges in Applying IFRS 5' is a publication by the IFRS team at Grant Thornton International Ltd. IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (IFRS 5) is not a new standard but experience has shown that implementing it can be a complex and time-consuming exercise.