Handbook | September 2021

 

Insight

Handbook: Discontinued operations & HFS disposal groups

Latest edition: Our in-depth guide to ASC 205-20 and held-for-sale disposal groups under ASC 360-10.

Valerie Boissou

Valerie Boissou

Partner, Dept. of Professional Practice, KPMG US

+1 212-954-1723

Tim Phelps

Tim Phelps

Partner, Dept. of Professional Practice, KPMG US

+1 212 872 3249

KPMG explains when and how to apply the discontinued operations guidance in ASC 205-20 and held-for-sale guidance in ASC 360-10. The latest edition adds new clarification to measuring held-for-sale assets, application of the strategic shift test, and other presentation matters.

Applicability

  • ASC Subtopic 205-20
  • ASC Subtopic 360-10
  • All companies with operations that may be discontinued or long-lived assets that may be sold or otherwise disposed of.

Relevant dates

  • Effective immediately

Report contents

  • Scope
  • Component of an entity
  • Disposed of or held-for-sale
  • Strategic shift test
  • Presentation of discontinued operations
  • Disclosure of discontinued operations
  • Measurement of held-for-sale disposal groups
  • Presentation and disclosure of held-for-sale disposal groups that are not discontinued operations

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