Hi
Quick question regarding an associate held for sale.
The balance date is 31 December.
The associate did not quite meet all the criteria to be considered held for sale at 31 December so equity accounting was still in place at this time and included in the financial statements. During January (new FY) the associate met the requirements to be considered held for sale and was eventually sold in May (five months after meeting the held for sale requirements).
Does equity accounting stop from January? Does the held for sale requirements start from when the associate is considered held for sale, or is the standard only applied from a year end perspective?
Thanks in advance.
