IPSAS 44, Non-current Assets Held for Sale and Discontinued Operations
The International Public Sector Accounting Standards Board® (IPSASB®) has issued International Public Sector Accounting Standard® (IPSAS®) 44, Non-current Assets Held for Sale and Discontinued Operations.
IPSAS 44 is based on International Financial Reporting Standard (IFRS®) 5, Non-current Assets Held for Sale and Discontinued Operations, developed by the International Accounting Standards Board (IASB®).
IPSAS 44 specifies the accounting for assets held for sale and the presentation and disclosure of discontinued operations. It requires assets that meet the criteria to be classified as held for sale to be:
- Measured at the lower of carrying amount and fair value less costs to sell and depreciation on such assets to cease; and
- Presented separately in the statement of financial position and the results of discontinued operations to be presented separately in the statement of financial performance.