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a discontinued operation, should be classified in discontinued operations. Additionally, future operating losses for a discontinued operation are not recognized before they occur, even if a gain is expected on disposal. The disclosure guidance in ASC 360-10, Property, Plant, and Equipment — Overall, applies when a disposal
Apr 15, 2021 · reporting as a discontinued operation, and section 4.5 of our FRD, Impairment or disposal of long-lived assets, for details. Also, see sections 19.4 and 23.3.5 of our FRD, Consolidation, for guidance on presentation and disclosure, respectively, for an entity that disposes of a business or nonprofit activity in
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Aug 2, 2023 · To our clients and other friends Accounting Standards Codification (ASC) 230, Statement of Cash Flows, addresses the presentation of
Apr 16, 2020 · This Subtopic provides guidance on the presentation and disclosure requirements for discontinued operations. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity. Reporting discontinued operations separately from continuing operations is intended to provide
Highlights. On 25 March 2021, the International Accounting Standards Board (the IASB or the Board) issued an Exposure Draft ED/2021/3, Disclosure Requirements in IFRS Standards – A Pilot Approach (Proposed amendments to IFRS 13 and IAS 19) (the ED), in which the Board proposes guidance for its own use when developing and drafting disclosure ...
4. Disclosure requirements 7 4.1 Pillar Two taxes and the scope of IAS 12 7 4.2 Disclosure of application of the exception 8 4.3 Disclosure of current tax expense 9 4.4 Disclosure in periods before (substantively) enacted legislation takes effect 11 4.4.1 Disclosure objective 11 4.4.2 Disclosure building blocks 13
Jun 30, 2024 · IFRS sets out the minimum disclosure requirements. However, the minimum disclosure requirements only apply to the extent that the transaction, event or item to which the disclosure requirement applies, is material to the entity, as clarified in paragraph 31 of IAS 1 Presentation of Financial Statements. Therefore, in applying the checklist, the ...
Providing disclosure of the impact of the adoption of IFRS 17 and IFRS 9 on shareholder equity as at the IFRS 17 initial application date of 1 January 2023 and on the profit reported both at half year and year end 2022. This disclosure may be more challenging , particularly for IFRS 17, as entities would need to produce a full roll-forward of ...
Consequential amendments. The requirement in paragraph 26 of IAS 21 states that ‘if exchangeability between two currencies is temporarily lacking, the rate used is the first subsequent rate at which exchanges could be made’, has now been removed and the new guidance described above should be applied instead. In addition, certain ...
