2012 Annual Report & Financial Statements - UBA Plc

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Impairment losses on initial classification as held for sale or distribution and subsequent gains and losses on remeasurement
are recognised in profit or loss:
Intangible assets and property and equipment once classified as held for sale or distribution are not amortized or
depreciated. In addition, equity accounting of equity-accounted investees ceases once classified as held for sale or
distribution. In line with IFRIC 17, the subsidiaries being spun off will be distributed as dividend to the shareholders of the
parent. The dividend payable will be at the fair value of the net assets to be distributed.
For discontinued operations, the Group presents discontinued operations in a separate line in the Income statement if an
entity or a component of an entity has been disposed of or is classified as held for sale and:
(a)
(b)
(c)
represents a separate major line of business or geographical area of operations;
is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of operations;
or
is a subsidiary acquired exclusively with a view to resale
Net profit from discontinued operations includes the net total of operating profit and loss before tax from operations,
including net gain or loss on sale before tax or measurement to fair value less costs to sell and discontinued operations tax
expense. A component of an entity comprises operations and cash flows that can be clearly distinguished, operationally
and for financial reporting purposes, from the rest of the Group’s operations and cash flows. If an entity or a component of
an entity is classified as a discontinued operation, the Group restates prior periods in the Income statement. Non-current
assets classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell.