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Roadmap Series

Impairments and Disposals of Long-Lived Assets and Discontinued Operations

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Impairments and Disposals of Long-Lived Assets and Discontinued Operations (October 2021)

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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. 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 2021 edition of this Roadmap also includes On the Radar, a new section that briefly summarizes emerging issues and trends related to the accounting and financial reporting topics addressed in the Roadmap.
This Roadmap replaces the Deloitte Q&As that were contained in ASC 360. To find the text in the Roadmap that corresponds to a former Q&A, select the “Discontinued Operations” tab at the bottom of the Q&A to Roadmap Quick Reference Guide and search for the Q&A’s number or title.
Be sure to check out other titles in Deloitte’s Roadmap series, our comprehensive, easy-to-understand collection of accounting guides on selected topics of broad interest to the financial reporting community.