Forwarded conversationSubject: [IFRS List] standards for sme's:not for profit organizations ————————
From: ann silvers <annsilvers@yahoo.com>Date: Wed, Nov 28, 2007 at 11:40 AM To: ifrs@ifrslist.com

On 11/27/07, ann silvers <annsilvers@yahoo.com> wrote:

November 27, 2007
 
Dear Elena,
 
I understand that accounting standards for smes are still in the drawing boards after asking for comments and suggestions from different sectors.
 
I am a practising accountant in the Philippines.  My concern is on the issue of not-for-profit organization, which in the Philippine context are also known as non-government organizations (NGO's).
 
These NGO's are generally funded by grants both from domestic and international funding …

Hi,

 
My name is Aashima Tandon. Can anybody tell me what exactly is asset held for sale and negative goodwill? What

Hi there,
sale?

Assets held for sale include assets (or groups of
assets to be disposed of) whose carrying amount will
be recovered principally through a sale transaction
rather than through continuing use.
What would be its treatment?
In accordance with IFRS (IFRS 5), discontinued
operations/assets held for sale are measured
at the lower of their carrying amount or fair value
less costs to sell.
Discontinued operations/assets held for sale are
presented in the financial statements as follows:
• On the balance …