chapter 8 - discontinued operations

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• What is a disposal group? A CGU
• How is an asset “held for sale” defined? If the value will be realized through a sale rather than through continuing use
• How is assets and liabilities held for sale presented in the statement of financial position? Separately from other assets in the balance sheet, on one line
• What is in general discontinued operations? Give an example A separate line of business
• How is “highly probable” defined, regarding to when the sale has to be completed? The asset is actively marketed at a reasonable sale price, a completed sale is expected within a year, management is committed to a plan to sell the asset. The assets to be sold are equal to at least a segment in the company is not included in the standard
• How is discontinued operations presented in the statement of comprehensive income? On a separate line after tax including any gain/loss
• How is assets held for sale measured? The lower of the carrying amount and fair value

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