BC85 The following table sets out the extent of convergence with SFAS 144:
|
Requirement |
Extent of convergence with SFAS 144 |
|
Scope |
Some differences in scope arising from other differences between IFRSs and US GAAP. |
|
Criteria for classification as held for sale |
Fully converged. |
|
Treatment of assets to be exchanged |
Fully converged if FASB proposals on exchanges of non-monetary assets are finalised. |
|
Treatment of assets to be abandoned |
Fully converged. |
|
Measurement on initial classification |
Converged, other than cumulative exchange differences recognised directly in equity(a) that are included in the carrying amount of the asset (or disposal group) under US GAAP but are not under IFRS 5. |
|
Subsequent measurement |
Converged on the principles, but some differences arising from different requirements on reversals of previous impairments. |
|
Changes to a plan to sell |
Converged on reclassification and on measurement, except for differences arising from diff |