Handbook | April 2020

Handbook: Discontinued operations

KPMG’s guide explains when and how to apply the discontinued operations and held-for-sale guidance in ASC 205-20. We provide detailed Q&As, interpretive guidance and examples.


ASC Subtopic 205-20

  • All companies with operations that may be discontinued or assets that may be sold, spun-off or abandoned.

Key impacts

  • Explains when the held-for-sale criteria are met
  • Addresses specific presentation and disclosure issues relating to discontinued operations 
  • Examples and observations to illustrate and explain key concepts such as ‘component’ and ‘strategic shift’

Report contents

  • Scope
  • Component of an entity
  • Disposed of or held-for-sale
  • Strategic shift test
  • Presentation of discontinued operations
  • Disclosure of discontinued operations

Related content

Webcast: Discontinued operations

Spotlight on contributors

Valerie Boissou

Valerie Boissou

Partner, Dept. of Professional Practice, KPMG US

Teddy Fabry

Teddy Fabry

Senior Manager, Dept. of Professional Practice, KPMG US



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