NEPAL ACCOUNTING STANDARDS ON
NON-CURRENT ASSETS KEPT FOR SALEAND DISCONTINUED
CLASSIFICATION OF noncurrent POSSESSIONS
(OR FINGERTIPS GROUPS) AS HELD FOR SALE
Non-current property that are being abandoned
DIMENSION OF noncurrent ASSETS
(OR DISPOSAL GROUPS) CLASSIFIED BECAUSE HELD
Measurement of a noncurrent asset (or fingertips group)
Recognition of disability losses and reversals
Becomes a plan of sale
DISPLAY AND DISCLOSURE
Presenting discontinued operations
Gains or loss relating to continuous operations
Demonstration of a non-current asset or disposal group
classified as held available for sale
COMPLIANCE WITH INTERNATIONAL
B. App supplement
Nepal Accounting Standard, twenty Non-Current Possessions Held on the market and Stopped Operations (NAS 20) is placed out in sentences 1-46 and Appendices A-B. All the sentences have equivalent authority. Paragraphs in striking italic type state the primary principles. Conditions defined in Appendix A is in italics the first time they look in the Normal. NAS 20 should be read in the context of it is objective, the Preface to Nepal Accounting Standards and the Framework pertaining to the Preparation and Business presentation of Financial Statements. NAS 02 Net Revenue or Damage for the time, Fundamental Errors and Changes in Accounting Plans provides a basis for selecting and applying accounting policies in the absence of explicit guidance.
The goal of this NAS is to designate the accounting for assets held available, and the business presentation and disclosure of stopped operations. In particular, the NAS requires:
(a) assets that meet the criteria to become classified as held available for sale to be tested at the reduce of holding amount and fair benefit less costs to sell, and depreciation on such property to end; and
(b) assets that meet the criteria to be classified because held available for sale to be offered separately in its appearance of the balance sheet and the effects of discontinued operations to be presented independently in the cash flow statement.
2 . The classification and presentation requirements of this EM apply to almost all recognised non-current assets1 and to all convenience groups of a great entity. The measurement requirements of this EM apply to all recognised noncurrent assets and disposal groups (as decide in paragraph 4), except for those property listed in passage 5 which in turn shall continue to be measured relative to the Standard known. 3. Assets classified since noncurrent relative to NAS 01 Presentation of economic Statements will not be reclassified as current assets till they meet the criteria to be grouped as kept for sale in compliance with this NAS. Possessions of a class that an organization would normally regard because noncurrent which can be acquired exclusively with a view to resale will not be classified as current unless they meet the criteria to be classified since held for sale in accordance with this NAS. 4. Sometimes an enterprise disposes of a team of assets, perhaps with some immediately associated debts, together in a single transaction. This kind of a removal group can be a group of cash-generating units, a single cash-generating product, or part of a cashgenerating unit. 2 The group may include any kind of assets and any debts of the organization, including current assets, current liabilities and assets omitted by section 5 from the measurement requirements of this EM. If a non-current asset in the scope with the measurement requirements of this EM is part of a removal group, the measurement requirements of this NAS apply to the group as a whole, so that the group is tested at the reduced of the carrying volume and good value significantly less costs to offer. The requirements for measuring the consumer assets...