IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

Loading Events
« Events
  • This event has passed.

April 27, 2023 @ 4:00 pm - July 27, 2023 @ 6:00 pm

| Ksh 1,000

THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)

IFRS 5 Non-current Assets Held for Sale and Discontinued Operations – Recording
Date: 27th April 2023
Time: 04.00pm-06.00pm
Venue: Online

Overview

IFRS 5 Non-current Assets Held for Sale and Discontinued Operations outlines how to account for non-current assets held for sale (or for distribution to owners). In general terms, assets (or disposal groups) held for sale are not depreciated, are measured at the lower of carrying amount and fair value less costs to sell and are presented separately in the statement of financial position. Specific disclosures are also required for discontinued operations and disposal of non-current assets.

When a company (or another entity) plans to sell an asset and / or stop some part of its business, then it might affect its future cash flows, profitability, and overall financial situation. Therefore, the users of financial statements, mainly investors, should be informed about these events. That’s why the standard IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations was issued – to highlight the results of discontinued operations and to separate them from the results of ongoing or continuing activities. So, if you or your company plans to sell some non-current assets and discontinue some operations, then IFRS 5 is for you. The only exception is when a company regularly sells assets normally considered as non-current. In this case, these sales represent one of primary activities and the related assets are inventories in fact. For example, a car dealer presents all vehicles for resale under IAS 2 Inventories, not under IFRS 5.

The following topics will form the key areas of discussion in this webinar;

  • Objective of IFRS 5
  1. Accounting treatment for assets (or disposal groups) held for sale
  2. Presentation and disclosure requirements for discontinued operations
  • Criteria for classification as held for sale in IFRS 5
  • Impairment of non-current assets within a disposal group
  • Practical approaches and applicability if this standard
  • Key provisions of IFRS 5 relating to discontinued operations

Target Audience

This webinar will be useful to all professional Accountants and those aspiring to join the profession

Continuous Professional Development Units (CPD Units):

Members of ICPAK and reciprocating professional bodies will be awarded 2 CPD Units upon successfully attending each of the sessions.

Cost:

Charges for the training will be Kes 1,000/= which will cover workshop fees, materials, and e-certificates of attendance.

Online Booking:

We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session.  Delegates are reminded to note that online booking for training sessions is mandatory.   This is available either online at www.icpak.com/events  or on the ICPAK Live – A smart phone-based application that is available from google store.

National Industrial Training Authority (NITA) Reimbursement:

The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)

Details

Start:
April 27, 2023 @ 4:00 pm
End:
July 27, 2023 @ 6:00 pm
Cost:
Ksh 1,000
Event Category:

Organizer

ICPAK
Website:
icpak.com

Other

CPD Hours
2
Associates Member Cost
Ksh 1
Full Member Cost
Ksh 1
Non Member Cost
Ksh 1
Event Type
Webinar
Status
Open
Mar 29

Online Anti-Money Laundering And Counter-Terrorism Financing Certification

Book Now!
Mar 29

IFRS Certification Course

Book Now!
Mar 29

Enterprise Risk Management (ERM) Certification Course

Book Now!
Apr 03

RISK CHAMPIONS WORKSHOP 2024

Book Now!

There are no upcoming events at this time.

There are no upcoming events at this time.

Download



About ICPAK

ICPAK is an Institution
mandated to protect and uphold public interest
as well as develop and regulate the accountancy profession in Kenya.

Member Of:

Contact Information:

P.O BOX 59963-00200,
CPA Center, Ruaraka, Thika road.
Nairobi, Kenya.
Telephone Line (Main) : +254 719 074 000
Mobile: +254 719 074 000
Email: icpak@icpak.com

TOP