BC11 As part of its annual improvements project begun in 2007, the Board identified an apparent inconsistency with IFRS 5 Non‑current Assets Held For Sale and Discontinued Operations. The inconsistency related to the accounting by a parent in its separate financial statements when investments it accounts for in accordance with IAS 39 are classified as held for sale in accordance with IFRS 5. Paragraph 10 requires an entity that prepares separate financial statements to account for such investments that are classified as held for sale (or included in a disposal group that is classified as held for sale) in accordance with IFRS 5 if they are measured at cost. However, financial assets that an entity accounts for in accordance with IAS 39 are excluded from IFRS 5's measurement requirements.
BC12 Paragraph BC13 of the Basis for Conclusions on IFRS 5 explains that the Board decided that non‑current assets should be excluded from the measurement scope of IFRS 5 only 'if (i) they are alre
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