Woorley Corporation needs to determine whether the disposal of its Tools Division qualifies as a discontinued operation. The Tools Division is one of Woorley's three major business segments. Its recent financial performance has been strong, yet Woorley believes that this segment will contract over the next three to five years. Woorley has developed a plan to dispose of the Tools Division and focus on its other two operating segments going forward. Does the disposal of the Tools Division qualify as a discontinued operation under IFRS? Use the table below to identify the criteria under IFRS for classifying a discontinued operation and whether the Tools Division disposal meets them. Criteria for Determining a Discontinued Operation What is a discontinued operation? Does the discontinued portion of the business meet the definition of a component of an entity to be considered a discontinued operation? Does the discontinued operation represent a strategic shift that has or will have a major impact on the entity? Is the discontinued operation part of a single coordinated disposal plan? IFRS