Heads Up: FASB Proposes to Amend Guidance on Discontinued Operations
Volume 20, Issue 10
This Heads Up discusses the FASB’s recently issued proposed Accounting Standards Update, Presentation of Financial Statements: Reporting Discontinued Operations, which would substantially converge the definition of a discontinued operation under FASB Accounting Standards Codification Subtopic 205-20, Presentation of Financial Statements: Discontinued Operations, with that under IFRS 5, Non-current Assets Held for Sale and Discontinued Operations. The proposal would also expand the disclosure requirements for disposals, including disclosures about individually material components that do not qualify as discontinued operations.
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