2. You are a chartered accountant and have been invited to advise on the following topics in a Board of Directors meeting at a holding company that is listed on the FTSE 350 and follows International Financial Reporting Standards (IFRS):

1. 1. Assume that a depreciable non-current asset used in the company operation is classified as held for sale in accordance with IFRS 5 Non-current assets held for sale and discontinued operations. Briefly explain how the depreciable non-current asset should be measured at the date when it is classified as held for sale.
2. 2. The 2018 IASB Conceptual Framework categorises measurement bases as historical cost and current value containing fair value, value in use for assets (and fulfilment value for liabilities), and current cost. Briefly explain value in use (for assets) and current cost bases.