[Verse 1] Management decides to sell, not operate A major line of business waits at the gate Held for sale or discontinued, different rules apply IFRS Five will tell us how to classify Assets bundled up together, disposal group complete Fair value less the costs to sell, that's how we compete With carrying amounts to find the lower of the two One year timeline starts the clock, commitment must be true [Chorus] Hold for sale, measure fair Lower value, that's the care Classify and separate Don't depreciate, calculate Discontinued shows apart Revenue gets a different chart Six criteria, check them well Assets destined for the sell [Verse 2] Highly probable the sale will actually occur Price is reasonable compared to current fair value per Actively marketed to buyers in the field Management committed, plan is truly sealed Available immediately in present condition now Only usual and customary terms we will allow Unlikely that significant changes will be made To the plan or that the plan will be delayed [Chorus] Hold for sale, measure fair Lower value, that's the care Classify and separate Don't depreciate, calculate Discontinued shows apart Revenue gets a different chart Six criteria, check them well Assets destined for the sell [Bridge] Component of an entity Operations and cash flows clearly Distinguishable from the rest Separate major line of business test Present separately on the face Income statement shows the space Profit loss from operations Plus the gain or loss from valuations [Verse 3] When conditions are no longer met, reverse the call Reclassify back to held for use, measure at the small Of carrying amount before held for sale Less depreciation, or recoverable, tell the tale Single line presentation for discontinued dreams Cash flows in the notes, unravel all the schemes Prior periods restated, comparative display Show the world what's going, what is here to stay [Chorus] Hold for sale, measure fair Lower value, that's the care Classify and separate Don't depreciate, calculate Discontinued shows apart Revenue gets a different chart Six criteria, check them well Assets destined for the sell [Outro] IFRS Five, the sale will thrive Measurement and disclosure, keep the books alive Classification matters when you're letting go Present it clearly so the users know
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