Disposal of foreign branches

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Sticky80
Posts: 3
Joined: 23 Jun 2021, 22:52

Disposal of foreign branches

Post by Sticky80 »

Hi guys,

When disposing/writing off an entire foreign operation (foreign branch) because of abandonment, other than IAS 21's exchange differences treatment, which other IAS or IFRS should I consider when writing off the whole operation? Is there a specific standard about this particular circumstance?

PD: Sorry for my english, I´m not a native english speaker.

Thanks for your help!
Cheers.
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Marek Muc
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Posts: 3228
Joined: 15 Oct 2018, 17:21
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Re: Disposal of foreign branches

Post by Marek Muc »

Hi,

Why abandon and not sell? Anyway, the below applies

https://ifrscommunity.com/knowledge-bas ... of-control
Sticky80
Posts: 3
Joined: 23 Jun 2021, 22:52

Re: Disposal of foreign branches

Post by Sticky80 »

Hi Marek,

The abandonment was a higher management decision.
Thanks for your quick replay!

Best regards,
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