What is meant by 'available for sale in its present condition' and 'the sale must be highly probable' according to IFRS 5?

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Posted by:
Tegegne Abrham
04-July-2014

Accounting

Question ajoutée par Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date de publication: 2016/01/25

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par Olalekan Oloko , Manager , Leyklean Services

Available for sales in its present condition: The asset must be in a good condition for a potential buyer while sales highly probable means Probability of selling within month is feasible. Its recognise in the middle of non-current asset and current asset in the statement of financial position.

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What is meant by 'available for sale in its present condition' and 'the sale must be highly probable' according to IFRS 5?

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