IFRS 5 guides accounting for assets held for sale and discontinued operations. It classifies non-current assets as held for sale if their value is recoverable through sale rather than use, measured at the lower of carrying amount or fair value less costs to sell, with depreciation ceasing. Discontinued operations are separately reported in the profit or loss statement, reflecting major business lines or areas disposed of or held for sale. Detailed disclosures in the notes ensure transparency and

IFRS 5: Non current assets held for sale and discontinued operations Follow Accounting Knowledge Concepts | Accounting Knowledge Concepts