On the application of 5 IFRS “For long-term assets held for sale and discontinued operations”

The global crisis and the global coronavirus pandemic have had a significant impact on the performance of the restaurant and hotel business. The volume of sales turnover has significantly decreased. The second quarter of 2020 was marked by a record collapse in the turnover of restaurants – by 49.7% [1, 2, 3]. The same trend is observed in Kazakhstan and Ukraine. For almost a year, many hotel and restaurant buildings have been empty. A significant part of them are re-profiled as trading enterprises with food products, rented out or, more often, put up for sale. The widespread sale of objects of long-term assets requires their specific accounting reflection and a real assessment of long-term assets intended for sale; as well as the development of sections of the accounting policy dedicated to new, modern transactions for the sale and purchase of a business or part of a business. Accounting for such transactions requires the methodologically correct application of IFRS No. 5 “Long-term assets held for sale and discontinued operations” [4], which was previously rarely used, and often not used at all. For many years, the authors have been dealing with the problems of developing accounting and tax policies for various accounting items with the application of IFRS. While writing the article, the authors, relying on their scientific and practical experience and knowledge, determined the purpose – to offer recommendations and accounting records of transactions of sale of long-term assets, part of the business or the whole segment of the business, prepared for sale, for inclusion in a special section of the accounting company of the selling company. The article uses both general scientific research methods and special research methods. The specifics of the article and the range of interests of the authors are designed for accountants and teachers of universities in Russian-speaking countries and CIS republics, where IFRS are applied.

1. Restorannyj rynok Rossii. – Moskva: MGU, 2020. URL: http://www.zen.yandex.ru›Jandeks.Dzen›…/restorannyi-rynok-2020… (In Russian).

2. Statisticheskij sbornik po gostinichnomu biznesu RF. – Moskva: FRK, 2020. URL: http://www.stat.gov.kz›region/260099/statistical_information… (In Russian).

3. Statisticheskij sbornik RK. Almaty: Atameken, 2020. URL: http://www.atameken.kz›uploads/content/files…gostinicami.pdf. (In Russian).

4. MSFO No. 5: dolgosrochnye aktivy, prednaznachennye dlja prodazhi // Mezhdunarodnye standarty finansovoj otchetnosti. URL: http://www.minfin.gov.kz. (In Russian).

5. O konkurencii: zakon Respubliki Kazahstan No. 375-Vot. 29 oktjabrja 2015 goda s izmenenijami i dopolnenijami na 01.01.22. URL: http://www.egov.kz. (In Russian).

6. O buhgalterskom uchete i finansovoj otchetnosti: zakon Respubliki Kazahstan No. 324 ot 28 fevralja 2007 goda, s izmenenijami i dopolnenijami na 01.01.22. URL: http://www.zakon.kz. (In Russian).

7. Mezhdunarodnye standarty finansovoj otchetnosti: prikaz Minfina RK ot 26 oktjabrja 2011 goda, s izmenenijami i dopolnenijami na 01.01.22. URL: http://www.minfin.gov.kz. (In Russian).

8. Gajbatova K.D., Dzhabrailova N.D. (2018) Prodazha predprijatija: pravovoj i buhgalterskij aspekty // Sbornik «Mezhdunarodnyj buhgalterskij uchet». No. 44. P. 42–50. URL: http:///cyberleninka.ru>GRNTI>n/prodazha-… (In Russian).

9. Druzhilovskaja Je.S. (2018) Dolgosrochnye aktivy, prednaznachennye dlja prodazhi i ih ocenka v rossijskom i mezhdunarodnom uchete // Sbornik nauchnyh trudov pod red. kol.: I.E. Mizikovskij, Je.S. Druzhilovskaja, A.A. Bazhenov. –N.Novgorod: NNGU im. N.I. Lobachevskogo, 677 p. URL: http://cyberleninka.ru>artikle...priznaniya...ucheta...aktivov... (In Russian).

10. Pavljuchenko T.N. (2018) Osnovnye sredstva, prednaznachennye dlja prodazhi kak osobaja kategorija buhgalterskogo ucheta // Zhurnal «Teorija i praktika obshhestvennogo razvitija». No. 1. P. 81–84. URL: http://cyberleninka.ru>artikle...priznaniya...ucheta...aktivov... (In Russian).

11. Popov A.Ju., Kolotilov V.A. (2018) Osobennosti priznanija, ocenki i ucheta dolgosrochnyh aktivov k prodazhe // Vestnik Cheljabinskogo gosudarstvennogo universiteta. No. 10(456). P. 212–219. URL: http://cyberleninka.ru>artikle...priznaniya...ucheta...aktivov... (In Russian).

12. Dolgosrochnye aktivy dlja prodazhi i prekrashhennaja dejatel'nost' // Stranichka «Rabota buhgaltera». URL: http://buh.Jota.me>597433HTML… (In Russian).

13. Pravila vedenija buhgalterskogo ucheta: prikaz Ministerstva finansov Respubliki Kazahstan No. 241 ot 31 marta 2015 goda, s izmenenijami i dopolnenijami na 01.01.22. URL: http://www.minfin.gov.kz. (In Russian).

14. Tipovoj plan schetov: prikaz Ministerstva finansov Respubliki Kazahstan No. 877 ot 2 oktjabrja 2018 goda, s izmenenijami i dopolnenijami na 01.01.22. URL: http://www.minfin.gov.kz. (In Russian).

15. Sbornik buhgalterskih provodok Kazahstana. URL: //http:/buh-spravka.kz›2019/04/24/sbornik… provodok/. (In Russian).