7.10 Disclosures for a Business or a Nonprofit Activity Classified as Held for Sale Upon Acquisition
ASC 205-20 requires more limited disclosures for a business or nonprofit
activity that is classified as held for sale on acquisition.
Specifically, an entity must provide the disclosures required by (1)
ASC 205-20-50-1, (2) ASC 205-20-50-3 if there is a change to the
plan of sale, (3) ASC 205-20-50-3A if there are any adjustments to
amounts previously reported, and (4) ASC 205-20-50-4A and 50-4B if
the entity will have any significant continuing involvement with the
business or nonprofit activity. The entity would not be required to
provide the disclosures in ASC 205-20-50-5A through 50-7.