AASB 5 - Non-current Assets Held for Sale and Discontinued Operations - July 2004
Comparison with IFRS 5Comparison with IFRS 5
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Comparison with IFRS 5
AASB 5 and IFRS 5
AASB 5 Non-current Assets Held for Sale and Discontinued Operations as amended incorporates IFRS 5 Non-current Assets Held for Sale and Discontinued Operations as issued and amended by the International Accounting Standards Board (IASB). Paragraphs that have been added to this Standard (and do not appear in the text of IFRS 5) are identified with the prefix “Aus”, followed by the number of the preceding IASB paragraph and decimal numbering.
Compliance with IFRS 5
Entities that comply with AASB 5 as amended will simultaneously be in compliance with IFRS 5 as amended, except for government-controlled entities that restructure administrative arrangements or administered activities and entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements.