lifering

Perspectives

A roadmap to disposals of long-lived assets and discontinued operations

This Roadmap combines the guidance in ASC 360-10 and ASC 205-20 on classifying long-lived assets as held for sale — as well as that on the presentation of disposals that both do and do not qualify for discontinued-operations reporting — with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. Note that this Roadmap represents a replacement of the 2017 publication A Roadmap to Reporting Discontinued Operations and has been expanded to address the disposal of long-lived assets.

This Roadmap provides Deloitte’s insights into the guidance in ASC 360-101 and ASC 205-20 on disposals of long-lived assets and discontinued operations. ASC 360-10 specifies the criteria for when long-lived assets to be sold must be classified as held for sale, along with the accounting and reporting requirements associated with that classification. ASC 205-20 further provides guidance on when a component, or group of components, of an entity that is classified as held for sale or disposed of must be reported as a discontinued operation.

The body of this Roadmap combines the guidance in ASC 360-10 and ASC 205-20 on classifying long-lived assets as held for sale — as well as that on the presentation of disposals that both do and do not qualify for discontinued-operations reporting — with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. Further, the table of contents is a helpful navigational tool, providing links to topics and interpretations.

Note that this publication represents a replacement of the 2017 publication A Roadmap to Reporting Discontinued Operations and has been expanded to address the disposal of long-lived assets.

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The Roadmap Series contains periodic collections of our accounting guidance on selected topics of broad interest to the financial reporting community.

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