Accounting Standard AASB 5 Non-current Assets Held for Sale and Discontinued Operations as amended
This compiled Standard applies to annual reporting periods beginning on or after 1 January 2018. It takes into account amendments up to and including 21 January 2015 and was prepared on 20 March 2015 by the staff of the Australian Accounting Standards Board (AASB).
This compilation is not a separate Accounting Standard made by the AASB. Instead, it is a representation of AASB 5 (July 2004) as amended by other Accounting Standards, which are listed in the Table below.
Table of Standards
Standard
Date made
Application date(annual reporting periods … on or after …)
Application, saving or transitional provisions
AASB 5
15 Jul 2004
(beginning) 1 Jan 2005
AASB 2007-3
26 Feb 2007
(beginning) 1 Jan 2009
see (a) below
AASB 2007-4
30 Apr 2007
(beginning) 1 Jul 2007
see (b) below
AASB 2007-7
28 Jun 2007
(beginning) 1 Jul 2007
see (b) below
AASB 2007-8
24 Sep 2007
(beginning) 1 Jan 2009
see (c) below
AASB 2007-9
13 Dec 2007
(beginning) 1 Jul 2008
see (d) below
AASB 2007-10
13 Dec 2007
(beginning) 1 Jan 2009
see (c) below
AASB 2008-3
6 Mar 2008
(beginning) 1 Jul 2009
see (e) below
AASB 2008-5
24 Jul 2008
(beginning) 1 Jan 2009
see (f) below
AASB 2008-6
24 Jul 2008
(beginning) 1 Jul 2009
see (g) below
AASB 2008-13
18 Dec 2008
(beginning) 1 Jul 2009
see (h) below
AASB 2009-5
21 May 2009
(beginning) 1 Jan 2010
see (i) below
AASB 2009-6
25 Jun 2009
(beginning) 1 Jan 2009and (ending) 30 Jun 2009
Part compilation details - AASB 5 - Non-current Assets Held for Sale and Discontinued Operations - July 2004 - compilation details | Zoe
see (j) below
AASB 2009-7
25 Jun 2009
(beginning) 1 Jul 2009
see (k) below
AASB 2009-11
7 Dec 2009
(beginning) 1 Jan 2018
see (l) below
AASB 2009-12
15 Dec 2009
(beginning) 1 Jan 2011
see (m) below
AASB 2010-2
30 Jun 2010
(beginning) 1 Jul 2013
see (n) below
AASB 2010-5
27 Oct 2010
(beginning) 1 Jan 2011
see (m) below
AASB 2010-7
6 Dec 2010
(beginning) 1 Jan 2018
see (o) below
AASB 2011-1
11 May 2011
(beginning) 1 Jul 2011
see (p) below
AASB 2011-7
29 Aug 2011
(beginning) 1 Jan 2013
see (q) below
AASB 2011-8
2 Sep 2011
(beginning) 1 Jan 2013
see (r) below
AASB 2011-9
5 Sep 2011
(beginning) 1 Jul 2012
see (s) below
AASB 2012-10
18 Dec 2012
(beginning) 1 Jan 2013
see (t) below
AASB 2013-9
20 Dec 2013
Pt B (beginning) 1 Jan 2014
see (u) below
AASB 2014-1
4 Jun 2014
Pt E (beginning) 1 Jan 2018
see (v) below
AASB 2014-7
17 Dec 2014
(beginning) 1 Jan 2018
see (w) below
AASB 2015-1
21 Jan 2015
(beginning) 1 Jan 2016
see (x) below
(a) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2009, provided that AASB 8 Operating Segments is also applied to such periods.
(b) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 July 2007.
(c) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2009, provided that AASB 101 Presentation of Financial Statements (September 2007) is also applied to such periods.
(d) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 July 2008, provided that the Standards and Interpretation listed in paragraph 6 of AASB 2007-9 are also applied to such periods.
(e) Entities may elect to apply this Standard to annual reporting periods beginning on or after 30 June 2007 but before 1 July 2009, provided that AASB 3 Business Combinations (March 2008) and AASB 127 Consolidated and Separate Financial Statements (March 2008) are also applied to such periods.
(f) Paragraph 11 of this Standard specifies application provisions. Entities may elect to apply this Standard, or its amendments to individual Standards, to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2009.
(g) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 July 2009, provided that AASB 127 Consolidated and Separate Financial Statements (March 2008) is also applied to such periods.
(h) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 July 2009, provided that AASB Interpretation 17 Distributions of Non-cash Assets to Owners is also applied to such periods.
(i) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2010.
(j) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2009, provided that AASB 101 Presentation of Financial Statements (September 2007) is also applied to such periods, and to annual reporting periods beginning on or after 1 January 2009 that end before 30 June 2009.
(k) Entities may elect to apply this Standard to annual reporting periods beginning before 1 July 2009 that end on or after 1 July 2008.
(l) AASB 2009-11 has been amended by AASB 2010-10 (made 31 December 2010) and AASB 2012-6 (made 10 September 2012). Part E of AASB 2014-1 (made 4 June 2014) updated the application date of the amendments in this Standard to 1 January 2018.
Entities may elect to apply the amendments in this Standard to annual reporting periods ending on or after 31 December 2009 that begin before 1 January 2018, provided that AASB 9 (2009) Financial Instruments is also applied to such periods.
(m) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2011.
(n) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 July 2009 but before 1 July 2013, provided that AASB 1053 Application of Tiers of Australian Accounting Standards is also applied to such periods.
(o) AASB 2010-7 has been amended by AASB 2010-10 (made 31 December 2010) and AASB 2012-6 (made 10 September 2012). Part E of AASB 2014-1 (made 4 June 2014) updated the application date of the amendments in this Standard to 1 January 2018.
Entities may elect to apply the amendments in this Standard as set out in paragraph 6 of AASB 2010-7.
(p) Entities may elect to apply this Standard, or its amendments to individual pronouncements, to annual reporting periods beginning on or after 1 January 2005 but before 1 July 2011, provided that AASB 1054 Australian Additional Disclosures is, or its relevant individual disclosure requirements are, also applied to such periods.
(q) AASB 2011-7 has been amended by AASB 2012-6 (made 10 September 2012) and AASB 2012-10 (made 18 December 2012).
For-profit entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2013. The Standard applies for not-for-profit entities to annual reporting periods beginning on or after 1 January 2014. Not-for-profit entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2013 but before 1 January 2014. If an entity elects to apply this Standard to such annual reporting periods, it shall also apply AASB 10 Consolidated Financial Statements and associated Standards to such periods.
(r) AASB 2011-8 has been amended by AASB 2011-10 (made 5 September 2011) and AASB 2012-6 (made 10 September 2012).
Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2013, provided that AASB 13 Fair Value Measurement is also applied to such periods.
(s) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 July 2012.
(t) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2013.
(u) Early application of Part B of this Standard is not permitted.
(v) Entities may elect to apply Part E of this Standard to annual reporting periods ending on or after 31 December 2009 that begin before 1 January 2018, provided that AASB 9 Financial Instruments (2009) or AASB 9 Financial Instruments (2010) is also applied to such periods.
(w) Entities may elect to apply this Standard to annual reporting periods beginning on or after 24 July 2014 but before 1 January 2018, provided that AASB 9 Financial Instruments (2014) is also applied to such periods.
(x) Entities may elect to apply this Standard to annual reporting periods beginning on or after 1 January 2005 but before 1 January 2016.