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20 Discontinued Operations

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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  • US GAAP
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.