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 different requirements on reversals of previous impairments.

Presentation of assets classified as held for sale

Fully converged.

Definition of a discontinued operation