Deloitte's Roadmap: Impairments and Disposals of Long-Lived Assets and Discontinued Operations

Impairments and Disposals of Long-Lived Assets and Discontinued Operations

This Roadmap provides Deloitte’s insights into the guidance in ASC 360-10 and ASC 205-20 on impairments and disposals of long-lived assets and presentation of discontinued operations.

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Preface On the Radar Contacts Chapter 1 — Overview and Scope Chapter 2 — Definitions of Discontinued Operation and Component of an Entity Chapter 3 — Held-for-Sale Classification Criteria and Related Measurement Chapter 4 — Criteria for Reporting a Discontinued Operation Chapter 5 — Discontinued Operations Chapter 6 — Presentation and Disclosure Requirements for Disposals That Are Not Reported as Discontinued Operations Chapter 7 — Presentation and Disclosure Requirements for Disposals That Are Reported as Discontinued Operations Chapter 8 — Reporting Considerations for SEC Registrants Appendix A — Glossary of Selected Terms in ASC 205-20, ASC 360-10, and ASC 805-10 Appendix B — Titles of Standards and Other Literature Appendix C — Abbreviations Appendix D — Roadmap Updates for 2021

This Roadmap provides Deloitte’s insights into the guidance in ASC 360-101 and ASC 205-20 on impairments and disposals of long-lived assets and presentation of discontinued operations. ASC 360-10 specifies the accounting and reporting for long-lived assets that are being held and used by an entity and for long-lived assets that the entity intends to sell or otherwise dispose of. 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 accounting and reporting for long-lived assets — 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.

The 2021 edition includes updated and expanded guidance as well as On the Radar, a high-level synopsis of accounting and reporting issues associated with impairments and disposals of long-lived assets and discontinued operations.