Preface
We are pleased to present the 2024 edition of Impairments and
Disposals of Long-Lived Assets and Discontinued Operations. 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 2024 edition of this Roadmap includes updated and expanded
guidance. For a summary of key changes made to this Roadmap since publication of the
2023 edition, see Appendix
D.
Be sure to check out On the
Radar (also available as a stand-alone publication),
which briefly summarizes emerging issues and trends related
to the accounting and financial reporting topics addressed
in the Roadmap.
We hope that you find this publication a valuable resource when
accounting and reporting for disposals of long-lived assets and discontinued
operations.
Footnotes
1
For a list of the titles of standards and other literature
referred to in this publication, see Appendix B. For a list of
abbreviations used in this publication, see Appendix C.