Roadmap
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.