5.1 This standard identifies cost-effective sales as a business process of the entity. The central objective is to ensure that assets are sold in a manner best suited to meet the goals of the entity.
5.2 This standard provides options and considerations to take into account to effectively manage the entity’s assets when considering asset sales.
1.2 Sales of assets may be done when assets used by the entity are no longer required, or to sell assets acquired for the purpose of sale or re-sale. The objectives of a sale will vary by entity; for instance, the goal may be to facilitate the replacement of assets, to obtain needed funds from sales proceeds, or simply to remove assets from the entity’s control and management.