Which standard addresses Non-current Assets Held for Sale?

The standard that addresses Non-current Assets Held for Sale is IFRS 5. This standard specifically provides guidance on the accounting for non-current assets that an entity plans to sell rather than to hold for ongoing use, along with the criteria for classifying assets as held for sale. It includes requirements for measuring these assets at the lower of their carrying amount and fair value less costs to sell, ensuring that the financial statements reflect the current intentions of the entity concerning those assets.

Furthermore, IFRS 5 outlines the necessary disclosures to inform users about the nature of the non-current assets held for sale, as well as the impact on the financial position and performance of the entity. This focus on assets held for sale differentiates it from other standards, which may deal with different types of assets or accounting issues.

In contrast, the other standards mentioned serve different purposes in financial reporting. IAS 40 relates to investment property, IAS 36 covers impairment of assets, and IFRS 13 provides guidance on fair value measurement. Each of these has its intended applications but does not specifically focus on non-current assets held for sale, making IFRS 5 the correct choice in this context.