A classification of non-current assets introduced by International Accounting Standard 5, Non-current Assets Held for Sale and Discontinued Operations. An asset, or group of assets, is to be classified in this way if it is available for sale in its present condition and its sale is expected to be completed within one year. Assets classified as held-for-sale are to be valued at the lower of the carrying amount and fair value less any direct selling costs (i.e. the net realizable value). They must be disclosed separately from other assets on the balance sheet. See also view to resale.