Scope of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

IFRS 5 deals with non-current assets held for sale, held for distribution to owners and with presentation of discontinued operations. IFRS 5 applies to all recognised non-current assets and to all disposal groups. There are certain scope exceptions listed in paragraph IFRS 5.5, but they relate to measurement only.

Sale transactions include exchanges of non-current assets for other non-current assets when the exchange has commercial substance in accordance with IAS 16.

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