The Handbook to IFRS Transition and to IFRS U.S. GAAP Dual Reporting

3.4 CERTAIN OTHER STRUCTURAL ELEMENTS OF THE STATEMENT OF FINANCIAL POSITION

The following paragraphs deal with some items of the statement of financial position that affect its structure. However, they are not exhaustive, as the topic is so vast that it falls outside of the scope of this Book. The Exhibits concerning presentation and disclosures (see Paragraphs 3.5.1 below and 3.5.2 below) cover many other specific issues, for example investments in separate accounts of insurance companies.

3.4.1 Held-for-Sale Noncurrent Assets and Liabilities

3.4.1.1 Separate Presentation in a Classified Statement of Financial Position

IFRSs require separate presentation of noncurrent assets or disposal groups that meet the criteria for classification as held for sale or held for distribution to owners acting in their capacity as owners, as well as of directly associated liabilities. The entity reports noncurrent assets as held for sale only when they meet related classification rules. This requirement also applies to a noncurrent asset, disposal group, or investment that an entity acquires exclusively with a view to resale and that meets the criteria for classification as held for sale on acquisition. Furthermore, in separate financial statements, an entity separately presents an investment in a subsidiary, associate, or jointly controlled entity that meets held-for-sale criteria. IAS 1 displays held-for-sale assets and held-for-sale liabilities as two separate minimum line items.

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