PET - Plain English Taxonomy

Attribute: CS23472
Label: Assets held for sale
Concept Guidance:
For interpretation/definition of this item refer to the Australian Accounting Standards, as an example, see provided reference 
Form-Specifc Guidance:
In addition to AASB 5 Non-current Assets Held for Sale and Discontinued Operations.

AASB 13 Fair Value Measurement paragraph 93(a) states that “non-recurring fair value measurements of assets or liabilities are those that other Australian Accounting Standards require or permit in the statement of financial position in particular circumstances (eg when an entity measures an asset held for sale at fair value less costs to sell in accordance with AASB 5 Non-current Assets Held for Sale and Discontinued Operations because the asset’s fair value less costs to sell is lower than its carrying amount)”.
Dimension Member Description
This dimension identifies the measurement scenario under which the reported value was calculated.
The value reported is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's length transaction.The fair value should be able to be determined through observation of similar transactions, quoted market prices, independent valuations or if there is no readily observable market, through the ability to liquidate the item or through assessing the net present value of future cash flows.
This dimension categorises the reported information based on the method used in calculating the Fair Value Hierarchy, as determined in accordance with relevant accounting standards.
The calculation method in relation to Fair Value Hierarchy is Observable Inputs referred to as Level 2.
This dimension refers to the number of times a balance will be shown consecutively at a reporting period, as per the relevant accounting standards.
The information in relation to the balance is designated in particular circumstances to be reported at the end of each reporting period.