according to pfrs 5, gains and losses on remeasurement of assets held for sale are
According to PFRS 5, gains and losses on remeasurement of assets held for sale are:
Cevap:
In accordance with the Philippine Financial Reporting Standards (PFRS) 5, gains and losses arising from the remeasurement of assets classified as held for sale or discontinued operations should be recognized in the income statement. When assets are classified as held for sale, they are measured at the lower of their carrying amount and fair value less costs to sell. Any subsequent increase or decrease in the fair value less costs to sell is recognized as a gain or loss in the income statement. These gains and losses play a crucial role in determining the overall financial performance of an entity during the reporting period. It is essential for companies to carefully assess and record these gains and losses accurately to provide transparent and reliable financial information to stakeholders.