Question Tag: Discontinued Operations

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CR – Mar 2025 – L3 – Q1 – Consolidated Cash Flows

Prepare Pato Aluworks Group's consolidated cash flow statement for 2024, including reconciliation note, using indirect method.

Question

Pato Aluworks Group (Pato) is an aluminium processing and casting entity that supplies high quality aluminum coils to both local and foreign markets. Pato has 3 subsidiaries namely Asanka, Jaritan and Topoya and one associate Dosi all of which it acquired several years ago. The Group’s Consolidated Statement of Profit or Loss Account for the year ended 31 December 2024 and Consolidated Statement of Financial Position as that date are set out below:

Consolidated Statement of Profit or Loss for the year ended 31 December (extract)

	2024	2023
	GH¢	GH¢
Profit from operations	651,150	640,496
Impairment reversal/(loss)	2,500	(1,250)
Finance costs	(52,000)	(40,825)
Share of profits of associate	127,575	108,439
Profit before tax	729,225	706,860
Income tax expense	(145,800)	(123,930)
Profit for the year (continuing operations)	583,425	582,930
Profit for the year (discontinued operations)	102,375
Profit for the year	685,800	582,930
Attributable to:
Owners of Pato	571,725	485,966
Non-controlling interest	114,075	96,964
	685,800	582,930

Consolidated Statement of Financial Position as at 31 December

ASSETS	2024	2023
Non-current assets	GH¢	GH¢
Property, plant and equipment	2,283,350	2,212,875
Intangible assets	22,000	–
Investment in associate	418,275	404,550
	2,723,625	2,617,425
Current assets
Trade and other receivables	170,325	200,025
Cash and cash equivalents	46,125	32,625
	216,450	232,650
Total assets	2,940,075	2,850,075
EQUITY AND LIABILITIES
Equity
Ordinary share capital (GH¢0.50 shares)	495,000	315,000
Share deals account	112,500	45,000
Retained earnings	1,491,750	1,518,975
Attributable to the equity holders of Pato	2,099,250	1,878,975
Non-controlling interest	315,450	339,300
	2,414,700	2,218,275
Non-current liabilities
Lease Liabilities	239,100	300,000
Employee benefit obligations	42,150	37,500
Current liabilities
Trade and other payables	90,000	118,800
Due to related parties	1,125	–
Income tax payable	153,000	175,500
	244,125	294,300
Total equity and liabilities	2,940,075	2,850,075

Additional information:
i) Pato owns 60% in Jaritan. The goodwill attributable to Pato arising on acquisition was GH¢67,500. The carrying value of Jaritan’s identifiable net assets (excluding goodwill arising on acquisition) in the group consolidation financial statements is GH¢180,000 at 31 December 2024. The recoverable amount of Jaritan is expected to be GH¢230,000 and no impairment loss had been recorded up to 31 December 2023.
ii) Pato sold all of its 75% shareholding in Asanka for cash during the year end December 31, 2024. As at December 31, 2023, all of the goodwill acquired in the business combination with Asanka had been written off. The profit from discontinued operations in the consolidated income statement above relates wholly to the sale of the shares in Asanka and can be analysed as follows:

	GH¢
Profit before tax	93,150
Income tax expense	(14,400)
Profit on disposal	23,625
	102,375

The net assets of Asanka at the date of disposal were as follows:

	GH¢
Property, plant and equipment	421,875
Trade and other receivables	31,275
Cash and cash equivalents	3,375
Trade and other payables	(19,012)
	437,512

iii) On 31 March 2024 Pato issued 100,000 ordinary shares for cash. This was followed by a bonus issue on 30 September 2024, utilising the share deals account. The consolidated statement of changes in equity for the year shows that all group companies paid ordinary dividends during the year.
iv) Depreciation of GH¢395,100 was recognised during the year ended 31 December 2024. In addition to the property, plant and equipment disposed of through the sale of Asanka, plant with a carrying amount of GH¢126,000 was sold for cash of GH¢135,000.
v) Trade and other payables include GH¢11,250 (2023: GH¢6,750) of unpaid interest due on the bank loan.

Required:
Prepare a consolidated statement of cash flows for Pato for the year ended 31 December 2024, including a note reconciling profit before tax to cash generated from operations, using the indirect method. (A note showing the effects of the disposal of Asanka is not required).

Answer

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Tags: Consolidated Cash Flows, Discontinued Operations, Dividends, Group Transactions, IAS 7, IFRS 10, Impairment, Non-Controlling Interest, Share Issues, Statement of Cash Flows
Level: Level 3

Topic: Consolidated Financial Statements (IFRS 10)
Series: MAR 2025

CR – Nov 2016 – L3 – SC – Q6 – Events After the Reporting Period (IAS 10)

Assess the treatment of transactions involving a property sale in accordance with IFRS 5 and evaluate the impact of events on reported gains under IAS 10.

Question

straight-line basis at the rate of 7.5%. An impairment loss of N350,000 was recognized at the end of May 31, 2013, financial year when accumulated depreciation was N1 million. Consequently, the property was valued at its estimated value in use. The company planned to move to new premises before the property was classified as held for sale on October 1, 2013. By this time, the fair value less costs to sell was N2.4 million.

Maranathan Plc published interim financial statements on December 1, 2013, by which time the property market had improved, and the fair value less costs to sell was reassessed at N2.52 million. At the year-end, on May 31, 2014, it had improved further, so that the fair value less costs to sell was N2.95 million. The property was disposed of eventually on June 5, 2014, for N3 million.

Required:
a. Assess the above transactions based on the requirements of IFRS 5, Non-current Assets Held for Sale and Discontinued Operations. (5 Marks)
b. Evaluate the impact of the events occurring on the property over time and on the reported gain in accordance with IAS 10, Events After the Reporting Period. (10 Marks)

Answer

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Tags: Discontinued Operations, Events After Reporting, Held for Sale, IAS 10, IFRS 5, Non-current Assets
Level: Level 3

Topic: Events After the Reporting Period (IAS 10)
Series: NOV 2016

AAA – Nov 2016 – L3 – Q1 – Forensic Auditing

Evaluate significant audit issues related to fraud by the MD/CEO, disclosure of discontinued operations, and audit responsibilities for internet banking.

Question

Havana Bank Plc was listed on the Nigerian Stock Exchange in February 2015. There was an initial public offer in the same period with proceeds of N5 billion. Part of the proceeds was expected to be utilized to strengthen the bank’s internet banking facility.

In November of the same year, the Managing Director/Chief Executive Officer (MD/CEO) proceeded on a three-week vacation to the United Kingdom but did not return at the time of concluding the audit of the 2015 financial statements early in 2016. It was observed that the MD/CEO had absconded with documents relating to the public offer. It was also noted that he kept drawing cash whilst in the United Kingdom amounting to N922 million.

The Bank closed its Gambian operations in June 2015 because it had made losses for two consecutive years. Prior to the two years before the closure, the operations in Gambia had grown into a network of five branches, contributing 15 percent of the gross income and 9.5 percent of the net profits of the group. The closure was not disclosed in the financial statements, but reference was made to the closure in the directors’ report.

As the Audit Manager in the firm of Chartered Accountants that audits Havana Bank Plc, you are required to:
a. Identify and explain the significant audit matters you will consider in forming an opinion in relation to the missing documents and the cash drawings by the absconded MD/CEO. (10 Marks)
b. Analyse and evaluate your views on the non-inclusion of the discontinued Gambian operations in the financial statements. (10 Marks)
c. Explain FIVE duties, as an auditor, in relation to the bank’s internet banking. (10 Marks)

Answer

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Tags: Audit opinion, Discontinued Operations, Financial Disclosures, Fraud investigation, Internet Banking Audit
Level: Level 3

Topic: Audit of IT Systems and Data Analytics, Forensic Auditing

CR – May 2018 – L3 – SB – Q3b – Impairment of Assets (IAS 36)

valuate discontinuation conditions and prepare profit or loss statement for Bamgbose Plc with comparative figures.

Question

Bamgbose Plc. is a long-established travel agent, operating through a network of retail outlets and online store. In recent years, the business has seen its revenue from the online store grow strongly, and that of retail outlets decline significantly. On July 1, 2017, the board decided to close the retail network at the financial year end of December 31, 2017, and put the buildings up for sale on that date. The directors are seeking advice regarding the treatment of the buildings in the statement of financial position as well as the treatment of the trading results of the retail division for the year. The following figures are available at December 31, 2017:

Carrying amount of buildings: ₦30.0 million
Fair value less costs to sell of buildings: ₦25.8 million
Other expected costs of closure: ₦5.85 million

Required:

(i) Outline the conditions which must be met in order to present the results of an operation as “discontinued” and the accounting treatment that applies when such a classification is deemed appropriate. (5 Marks)

(ii) Draft the statement of profit or loss for Bamgbose Plc. for year ended December 31, 2017, together with the comparative figures for 2016, taking the above information into account. (8 Marks)

Answer

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Tags: Accounting Treatment, Closure Costs, Discontinued Operations, Held for Sale, IFRS 5, Non-current Assets, Profit or Loss Statement, Revenue
Level: Level 3

Topic: Impairment of Assets (IAS 36)
Series: MAY 2018

CR – May 2018 – L3 – SB – Q3a – Impairment of Assets (IAS 36)

Outline conditions for classifying assets as held for sale and their accounting treatment under IFRS 5.

Question

(a) “IFRS 5 Non-current Asset held for Sale and Discontinued Operations” sets out the principles governing the measurement and presentation of non-current assets that are expected to be realized through sale rather than through continuing use. The standard also deals with reporting the results of operations that qualify as discontinued.

Required:

Discuss the conditions which must be met for a non-current asset to be classified as being “held for sale” and explain the accounting treatment that applies when such a classification is deemed appropriate. (7 Marks)

Answer

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Tags: Accounting Treatment, Classification Conditions, Discontinued Operations, Held for Sale, IFRS 5, Non-current Assets
Level: Level 3

Topic: Impairment of Assets (IAS 36)
Series: MAY 2018

FR – May 2021 – L2 – Q3b – Impairment of Assets (IAS 36)

Prepare a statement of profit or loss for Wizkid Bottling Company Plc showing continuing and discontinued operations.

Question

Wizkid Bottling Company Plc specializes in the production of alcoholic wine known as Blue Bull and a soft drink called “Wiz-Cola,” operating two divisions: Blue Bull and Wiz-Cola. Due to high labor costs and raw material shortages for wine production, the Blue Bull division has incurred significant operating losses. Management decided to close down the Blue Bull division and drew up a plan to discontinue its operations.

On February 1, 2019, the Board of Directors of Wizkid Bottling Company Plc approved and immediately announced the formal plan.

The following figures are available for the current and prior year ending March 31:

	2019		2018
	Blue Bull	Wiz-Cola	Blue Bull	Wiz-Cola
Revenue	235,000	1,570,000	250,000	1,250,000
Cost of sales	175,000	505,000	200,000	450,000
Admin. expenses	35,000	311,000	25,000	255,000
Distribution costs	20,000	186,500	10,000	157,500
Other operating	15,000	124,500	10,000	102,500
expenditure
Taxation expense	(3,000)	130,500	1,500	85,000

Additional Information:

Severance pay of N42.5 million was incurred between February 1, 2019, and March 31, 2019.
An evaluation of the recoverability of assets in the Blue Bull Division in terms of IAS 36 led to recognizing an impairment loss of N9.5 million, which is included in other operating expenses above.

Required:

i. Draft the statement of profit or loss for Wizkid Bottling Company Plc for the years ended March 31, 2019, and 2018, in compliance with IFRS 5, showing continuing and discontinuing operations.
(10 Marks)

ii. List additional disclosures required by IFRS 5 for the discontinued operations in the financial statements for the year ended March 31, 2019.
(3 Marks)

Answer

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Tags: Additional Disclosures, Discontinued Operations, IFRS 5, Profit or Loss
Level: Level 2

Topic: Impairment of Assets (IAS 36)
Series: MAY 2021

CR – May 2021 – L3 – Q5 – Financial performance of Shop First Ltd

Analyze the financial performance of Shop First Ltd for 2020 and discuss the effects of discontinued operations and contingencies.

Question

Shop First Ltd operates supermarket chains across the sixteen (16) regions of Ghana. The firm has been in commercial operation for more than two decades, growing its operations through an effective supply chain and financial management. However, in the last few years, keen competition and worsening general economic performance have steadied the consistent growths experienced over the years, resulting in the entity disposing off part of its operations. Below are the financial statements of Shop First Ltd:

Answer

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Tags: Contingencies, Discontinued Operations, Financial Performance, Gearing, Liquidity, Profitability, Ratio Analysis
Level: Level 3

Topic: Analysis and Interpretation of Financial Statements
Series: MAY 2021

FR – May 2020 – L2 – Q2b – Classification of Discontinued Operations under IFRS 5

Assess the classification of certain operations as discontinued operations under IFRS 5 for two scenarios.

Question

In accordance with IFRS 5: Non-Current Assets held for Sale and Discontinued Operations, explain with reasons whether each of the following could most likely be classified as a discontinued operation in this year’s financial statements:

i) A reportable operating segment that met the definition of held for sale after the year-end but before the financial statements were authorised for issue.
ii) A division of a business, classified as held for sale, that was correctly treated as a discontinued operation in last year’s financial statements but which has not been sold by this year-end due to the sale being referred to the Securities and Exchange Commission (SEC). SEC is not expected to report its findings until 6 months after this year-end.

Answer

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Tags: Discontinued Operations, Financial Reporting, IFRS 5, Non-current Assets
Level: Level 2

Series: MAY 2020

FR – Mar/Jul 2020 – L2 – Q2a – Non-current Assets Held for Sale under IFRS 5

Explanation of the criteria required for assets to be classified as held for sale under IFRS 5.

Question

IFRS 5 sets out requirements that specify the accounting treatment for Non-current Assets Held for Sale and the presentation and Discontinued Operations.
Required:
Explain the criteria to be met before assets can be classified as held for sale in accordance with IFRS 5.
(5 Marks)

Answer

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Tags: Asset Classification, Discontinued Operations, Financial Reporting, IFRS 5, Non-current Assets
Level: Level 2

Topic: Non-current Assets Held for Sale (IFRS 5)
Series: MAR/JULY 2020

FR – May 2018 – L2 – Q2e – Financial Reporting Standards and Their Applications

Identify the criteria to be met for an asset to be classified as held for sale in accordance with IFRS 5.

Question

In accordance with IFRS 5: Non-Current Assets Held for Sale and Discontinued Operations, a non-current asset (disposal group) is classified as “held for sale” if its carrying amount will be recovered principally through a sale transaction rather than through continuing use. However, to qualify to be classified as held for sale, a detailed criteria must be met.

Required:
Identify any TWO criteria to be met before an asset can be classified as held for sale. (2 marks)

Answer

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Tags: Discontinued Operations, Held for Sale, IFRS 5, Non-current Assets
Level: Level 2

Topic: Financial Reporting Standards and Their Applications
Series: MAY 2018

CR – Mar 2025 – L3 – Q1 – Consolidated Cash Flows

Prepare Pato Aluworks Group's consolidated cash flow statement for 2024, including reconciliation note, using indirect method.

Question

Consolidated Statement of Profit or Loss for the year ended 31 December (extract)

	2024	2023
	GH¢	GH¢
Profit from operations	651,150	640,496
Impairment reversal/(loss)	2,500	(1,250)
Finance costs	(52,000)	(40,825)
Share of profits of associate	127,575	108,439
Profit before tax	729,225	706,860
Income tax expense	(145,800)	(123,930)
Profit for the year (continuing operations)	583,425	582,930
Profit for the year (discontinued operations)	102,375
Profit for the year	685,800	582,930
Attributable to:
Owners of Pato	571,725	485,966
Non-controlling interest	114,075	96,964
	685,800	582,930

Consolidated Statement of Financial Position as at 31 December

ASSETS	2024	2023
Non-current assets	GH¢	GH¢
Property, plant and equipment	2,283,350	2,212,875
Intangible assets	22,000	–
Investment in associate	418,275	404,550
	2,723,625	2,617,425
Current assets
Trade and other receivables	170,325	200,025
Cash and cash equivalents	46,125	32,625
	216,450	232,650
Total assets	2,940,075	2,850,075
EQUITY AND LIABILITIES
Equity
Ordinary share capital (GH¢0.50 shares)	495,000	315,000
Share deals account	112,500	45,000
Retained earnings	1,491,750	1,518,975
Attributable to the equity holders of Pato	2,099,250	1,878,975
Non-controlling interest	315,450	339,300
	2,414,700	2,218,275
Non-current liabilities
Lease Liabilities	239,100	300,000
Employee benefit obligations	42,150	37,500
Current liabilities
Trade and other payables	90,000	118,800
Due to related parties	1,125	–
Income tax payable	153,000	175,500
	244,125	294,300
Total equity and liabilities	2,940,075	2,850,075

	GH¢
Profit before tax	93,150
Income tax expense	(14,400)
Profit on disposal	23,625
	102,375

The net assets of Asanka at the date of disposal were as follows:

	GH¢
Property, plant and equipment	421,875
Trade and other receivables	31,275
Cash and cash equivalents	3,375
Trade and other payables	(19,012)
	437,512

Answer

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Tags: Consolidated Cash Flows, Discontinued Operations, Dividends, Group Transactions, IAS 7, IFRS 10, Impairment, Non-Controlling Interest, Share Issues, Statement of Cash Flows
Level: Level 3

Topic: Consolidated Financial Statements (IFRS 10)
Series: MAR 2025

CR – Nov 2016 – L3 – SC – Q6 – Events After the Reporting Period (IAS 10)

Assess the treatment of transactions involving a property sale in accordance with IFRS 5 and evaluate the impact of events on reported gains under IAS 10.

Question

Answer

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Tags: Discontinued Operations, Events After Reporting, Held for Sale, IAS 10, IFRS 5, Non-current Assets
Level: Level 3

Topic: Events After the Reporting Period (IAS 10)
Series: NOV 2016

AAA – Nov 2016 – L3 – Q1 – Forensic Auditing

Evaluate significant audit issues related to fraud by the MD/CEO, disclosure of discontinued operations, and audit responsibilities for internet banking.

Question

Answer

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Tags: Audit opinion, Discontinued Operations, Financial Disclosures, Fraud investigation, Internet Banking Audit
Level: Level 3

Topic: Audit of IT Systems and Data Analytics, Forensic Auditing

CR – May 2018 – L3 – SB – Q3b – Impairment of Assets (IAS 36)

valuate discontinuation conditions and prepare profit or loss statement for Bamgbose Plc with comparative figures.

Question

Carrying amount of buildings: ₦30.0 million
Fair value less costs to sell of buildings: ₦25.8 million
Other expected costs of closure: ₦5.85 million

Required:

Answer

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Tags: Accounting Treatment, Closure Costs, Discontinued Operations, Held for Sale, IFRS 5, Non-current Assets, Profit or Loss Statement, Revenue
Level: Level 3

Topic: Impairment of Assets (IAS 36)
Series: MAY 2018

CR – May 2018 – L3 – SB – Q3a – Impairment of Assets (IAS 36)

Outline conditions for classifying assets as held for sale and their accounting treatment under IFRS 5.

Question

Required:

Answer

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Tags: Accounting Treatment, Classification Conditions, Discontinued Operations, Held for Sale, IFRS 5, Non-current Assets
Level: Level 3

Topic: Impairment of Assets (IAS 36)
Series: MAY 2018

FR – May 2021 – L2 – Q3b – Impairment of Assets (IAS 36)

Prepare a statement of profit or loss for Wizkid Bottling Company Plc showing continuing and discontinued operations.

Question

On February 1, 2019, the Board of Directors of Wizkid Bottling Company Plc approved and immediately announced the formal plan.

The following figures are available for the current and prior year ending March 31:

	2019		2018
	Blue Bull	Wiz-Cola	Blue Bull	Wiz-Cola
Revenue	235,000	1,570,000	250,000	1,250,000
Cost of sales	175,000	505,000	200,000	450,000
Admin. expenses	35,000	311,000	25,000	255,000
Distribution costs	20,000	186,500	10,000	157,500
Other operating	15,000	124,500	10,000	102,500
expenditure
Taxation expense	(3,000)	130,500	1,500	85,000

Additional Information:

Severance pay of N42.5 million was incurred between February 1, 2019, and March 31, 2019.
An evaluation of the recoverability of assets in the Blue Bull Division in terms of IAS 36 led to recognizing an impairment loss of N9.5 million, which is included in other operating expenses above.

Required:

ii. List additional disclosures required by IFRS 5 for the discontinued operations in the financial statements for the year ended March 31, 2019.
(3 Marks)

Answer

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Tags: Additional Disclosures, Discontinued Operations, IFRS 5, Profit or Loss
Level: Level 2

Topic: Impairment of Assets (IAS 36)
Series: MAY 2021

CR – May 2021 – L3 – Q5 – Financial performance of Shop First Ltd

Analyze the financial performance of Shop First Ltd for 2020 and discuss the effects of discontinued operations and contingencies.

Question

Answer

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Tags: Contingencies, Discontinued Operations, Financial Performance, Gearing, Liquidity, Profitability, Ratio Analysis
Level: Level 3

Topic: Analysis and Interpretation of Financial Statements
Series: MAY 2021

FR – May 2020 – L2 – Q2b – Classification of Discontinued Operations under IFRS 5

Assess the classification of certain operations as discontinued operations under IFRS 5 for two scenarios.

Question

Answer

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Tags: Discontinued Operations, Financial Reporting, IFRS 5, Non-current Assets
Level: Level 2

Series: MAY 2020

FR – Mar/Jul 2020 – L2 – Q2a – Non-current Assets Held for Sale under IFRS 5

Explanation of the criteria required for assets to be classified as held for sale under IFRS 5.

Question

Answer

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Tags: Asset Classification, Discontinued Operations, Financial Reporting, IFRS 5, Non-current Assets
Level: Level 2

Topic: Non-current Assets Held for Sale (IFRS 5)
Series: MAR/JULY 2020

FR – May 2018 – L2 – Q2e – Financial Reporting Standards and Their Applications

Identify the criteria to be met for an asset to be classified as held for sale in accordance with IFRS 5.

Question

Required:
Identify any TWO criteria to be met before an asset can be classified as held for sale. (2 marks)

Answer

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Tags: Discontinued Operations, Held for Sale, IFRS 5, Non-current Assets
Level: Level 2

Topic: Financial Reporting Standards and Their Applications
Series: MAY 2018

Question Tag: Discontinued Operations

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CR – Mar 2025 – L3 – Q1 – Consolidated Cash Flows

Prepare Pato Aluworks Group's consolidated cash flow statement for 2024, including reconciliation note, using indirect method.

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CR – Nov 2016 – L3 – SC – Q6 – Events After the Reporting Period (IAS 10)

Assess the treatment of transactions involving a property sale in accordance with IFRS 5 and evaluate the impact of events on reported gains under IAS 10.

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AAA – Nov 2016 – L3 – Q1 – Forensic Auditing

Evaluate significant audit issues related to fraud by the MD/CEO, disclosure of discontinued operations, and audit responsibilities for internet banking.

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CR – May 2018 – L3 – SB – Q3b – Impairment of Assets (IAS 36)

valuate discontinuation conditions and prepare profit or loss statement for Bamgbose Plc with comparative figures.

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CR – May 2018 – L3 – SB – Q3a – Impairment of Assets (IAS 36)

Outline conditions for classifying assets as held for sale and their accounting treatment under IFRS 5.

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FR – May 2021 – L2 – Q3b – Impairment of Assets (IAS 36)

Prepare a statement of profit or loss for Wizkid Bottling Company Plc showing continuing and discontinued operations.

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CR – May 2021 – L3 – Q5 – Financial performance of Shop First Ltd

Analyze the financial performance of Shop First Ltd for 2020 and discuss the effects of discontinued operations and contingencies.

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FR – May 2020 – L2 – Q2b – Classification of Discontinued Operations under IFRS 5

Assess the classification of certain operations as discontinued operations under IFRS 5 for two scenarios.

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FR – Mar/Jul 2020 – L2 – Q2a – Non-current Assets Held for Sale under IFRS 5

Explanation of the criteria required for assets to be classified as held for sale under IFRS 5.

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FR – May 2018 – L2 – Q2e – Financial Reporting Standards and Their Applications

Identify the criteria to be met for an asset to be classified as held for sale in accordance with IFRS 5.

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CR – Mar 2025 – L3 – Q1 – Consolidated Cash Flows

Prepare Pato Aluworks Group's consolidated cash flow statement for 2024, including reconciliation note, using indirect method.

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CR – Nov 2016 – L3 – SC – Q6 – Events After the Reporting Period (IAS 10)

Assess the treatment of transactions involving a property sale in accordance with IFRS 5 and evaluate the impact of events on reported gains under IAS 10.

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AAA – Nov 2016 – L3 – Q1 – Forensic Auditing

Evaluate significant audit issues related to fraud by the MD/CEO, disclosure of discontinued operations, and audit responsibilities for internet banking.

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CR – May 2018 – L3 – SB – Q3b – Impairment of Assets (IAS 36)

valuate discontinuation conditions and prepare profit or loss statement for Bamgbose Plc with comparative figures.

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CR – May 2018 – L3 – SB – Q3a – Impairment of Assets (IAS 36)

Outline conditions for classifying assets as held for sale and their accounting treatment under IFRS 5.

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FR – May 2021 – L2 – Q3b – Impairment of Assets (IAS 36)

Prepare a statement of profit or loss for Wizkid Bottling Company Plc showing continuing and discontinued operations.

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CR – May 2021 – L3 – Q5 – Financial performance of Shop First Ltd

Analyze the financial performance of Shop First Ltd for 2020 and discuss the effects of discontinued operations and contingencies.

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FR – May 2020 – L2 – Q2b – Classification of Discontinued Operations under IFRS 5

Assess the classification of certain operations as discontinued operations under IFRS 5 for two scenarios.

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FR – Mar/Jul 2020 – L2 – Q2a – Non-current Assets Held for Sale under IFRS 5

Explanation of the criteria required for assets to be classified as held for sale under IFRS 5.

You're reporting an error for "FR – Mar/Jul 2020 – L2 – Q2a – Non-current Assets Held for Sale under IFRS 5"

FR – May 2018 – L2 – Q2e – Financial Reporting Standards and Their Applications

Identify the criteria to be met for an asset to be classified as held for sale in accordance with IFRS 5.

You're reporting an error for "FR – May 2018 – L2 – Q2e – Financial Reporting Standards and Their Applications"

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