Discontinued Operations
A discontinued operation is a component of an enterprise that has either been disposed of, or is classified as 'held for sale', and:
- represents a separate major line of business or geographical area of operations; and
- is part of a single, co-ordinated plan to dispose of this separate major line of business or geographical area of operations; or
- is a subsidiary acquired exclusively with a view to resale.
If there is any gain or loss from sale of assets it should be recognised in the statement of comprehensive income.
Read more about this topic: IFRS 5
Famous quotes containing the word operations:
“There is a patent office at the seat of government of the universe, whose managers are as much interested in the dispersion of seeds as anybody at Washington can be, and their operations are infinitely more extensive and regular.”
—Henry David Thoreau (1817–1862)