Exposure draft – discontinued operations
The International Accounting Standards Board (IASB) has proposed a revised definition of discontinued operations which could result in fewer items being recognised as discontinued operations than at present. Additional disclosures are also proposed for all components of an entity that have been disposed of or are classified as held for sale, but do not meet the definition of a discontinued operation. The proposal is published for public comment in an exposure draft of proposed amendments to IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. The exposure draft Discontinued Operations (proposed amendments to IFRS 5) is open for public comment until 23 January 2009. The exposure draft is now available on www.iasb.org via the ‘Open for Comment’ section.
It is expected that the Australian Accounting Standards Board (AASB) will issue this exposure draft to gather the views of the Australian constituents. For further details and updates, please visit the AASB’s website.