The amendments to IFRS 5 are to revise the definition and require additional disclosure about components of an entity that have been disposed of or are classified as held for sale.
The IASB has issued an exposure draft of proposed amendments to IFRS 5 Non-current Assets Held for Sale and Discontinued Operations.
The proposals are to revise the definition of discontinued operations and require additional disclosure about components of an entity that have been disposed of or are classified as held for sale.
The proposals intend to increase consistency between IFRSs and strengthen the basic principle in IFRS 5.
The proposed definition could result in fewer items being recognised in financial statements as discontinued operations than at present. However, the additional disclosures would give information about components of an entity that have been disposed of or are held for sale but do not meet the definition of a discontinued operation.
Deadline for comment is 23 January 2009.
Press release
Exposure draft
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IASB exposure draft on IFRS 5.pdf
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