Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p74
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 199237–202101

AASB 101AASB 18) any balance relating to that financial asset.
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AASB 5 Non‑current Assets Held for Sale and Discontinued Operations (August 2015)
Paragraphs 2, 3, 5A, 5B, 13, 17, 26A, 28, 33–36A, 38, 39 and 41, and the headings before paragraphs 31 and 38, are amended. Paragraph 31 is not amended but included for ease of reference. Paragraph 44N is added. New text is underlined and deleted text is struck through.

Scope
2 The classification, and presentation and disclosure requirements of this Standard apply to all recognised non‑current assets1 and to all disposal groups of an entity. The measurement requirements of this Standard apply to all recognised non‑current assets and disposal groups (as set out in paragraph 4), except for those assets listed in paragraph 5 which shall continue to be measured in accordance with the Standard noted.
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3 Assets classified as non‑current in accordance with AASB 18 Presentation and Disclosure in Financial Statements AASB 101 Presentation of Financial Statements shall not be reclassified as current assets until they meet the criteria to be classified as held for sale in accordance with this Standard. Assets of a class that an entity would normally regard as non‑current that are acquired exclusively with a view to resale shall not be classified as current unless they meet the criteria to be classified as held for sale in accordance with this Standard.
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5A The classification, presentation, and measurement and disclosure requirements in this Standard applicable to a non‑current asset (or disposal group) that is classified as held for sale apply also to a non‑current asset (or disposal group) that is classified as held for distribution to owners acting in their capacity as owners (held for distribution to owners).
5B This Standard specifies the disclosures required in respect of non‑current assets (or disposal groups) classified as held for sale or discontinued operations. Disclosures in other Standards do not apply to such assets (or disposal groups) unless those Standards require:
(a) specific disclosures in respect of non‑current assets (or disposal groups) classified as held for sale or discontinued operations; or
(b) disclosures about measurement of assets and liabilities within a disposal group that are not within the scope of the measurement requirement of AASB 5 and such disclosures are not already provided in the other notes to the financial statements.
Additional disclosures about non‑current assets (or disposal groups) classified as held for sale or discontinued operations may be necessary to comply with the disclosure general requirements of AASB 18 and the requirements of AASB 108 Basis of Preparation of Financial StatementsAASB 101, in particular paragraphs 6A and 31A of AASB 108 15 and 125 of that Standard.

Classification of non‑current assets (or disposal