Deloitte
Accounting Research Tool
...
Chapter 1 — Overview and Scope

1.4 Scope of ASC 205-20 — Presenting Discontinued Operations

1.4 Scope of ASC 205-20 — Presenting Discontinued Operations

ASC 205-20
05-1 This Subtopic provides guidance on the presentation and disclosure requirements for discontinued operations. A discontinued operation may include a component of an entity or a group of components of an entity, or a business or nonprofit activity.
15-1 This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic; see Section 205-10-15, with specific transaction qualifications noted below.
15-2 The guidance in this Subtopic applies to either of the following:
  1. A component of an entity or a group of components of an entity that is disposed of or is classified as held for sale
  2. A business or nonprofit activity that, on acquisition, is classified as held for sale.
Pending Content (Transition Guidance: ASC 805-60-65-1)
15-2 The guidance in this Subtopic applies to either of the following:
  1. A component of an entity or a group of components of an entity that is disposed of or is classified as held for sale
  2. A business or nonprofit activity that, on acquisition or upon formation of a joint venture, is classified as held for sale.
15-3 The guidance in this Subtopic does not apply to oil and gas properties that are accounted for using the full-cost method of accounting as prescribed by the U.S. Securities and Exchange Commission (SEC) (see Regulation S-X, Rule 4-10, Financial Accounting and Reporting for Oil and Gas Producing Activities Pursuant to the Federal Securities Laws and the Energy Policy and Conservation Act of 1975).