LITMIR.BIZ

Скачать книгу

Disclosure ASC 205‐20, Discontinued Operations Determining When a Disposal Should Be Presented as a Discontinued Operation Presentation—Income Statement Presentation—Balance Sheet Disclosures for Assets Sold or Held for Sale Change to a Plan of Sale Continuing Involvement Disclosures Required for a Discontinued Operation Comprising a Component or Group of Components of an Entity Disclosures Required for a Discontinued Operation Comprising an Equity Method Investment ASC 205‐30, Liquidation Basis of Accounting Determining When to Apply the Liquidation Basis of Accounting Measuring Assets and Liabilities Presentation Disclosure ASC 205‐40, Going Concern Overall Guidance Consideration of Management's Plans Disclosure Requirements

      4  Presentation and Disclosure Examples Example 2.1: Reclassification Example 2.2: Income Statement Presentation for Discontinued Operations—Face of the Income Statement Example 2.3: Computing the Gain or Loss on Disposal in the Year in Which the Discontinued Operation Is Classified as Held for Sale Example 2.4: Discontinued Operations—Adjustment of Loss Repeated in a Prior Period as a Discontinued Operation Example 2.5: Discontinued Operations Reporting—in Periods after the Sale, Including Adjustment for Contingency Example 2.6: Discontinued Operations—Note Disclosure in Years Subsequent to the Year in Which the Discontinued Operation Was Classified as Held for Sale Example 2.7: Discontinued Operations—Note Disclosure in Years Subsequent to the Year in Which the Discontinued Operation Was Classified as Held for Sale Example 2.8: Note—Discontinued Operation—Not a Strategic Shift Example 2.9: Basis of Presentation—Liquidation Basis of Accounting Example 2.10: Statement of Net Assets in Liquidation Example 2.11: Statement of Changes in Net Assets in Liquidation Example 2.12: Note—Liquidation Is Imminent Liquidation of Company Plan of Liquidation Financial Statement Presentation Adoption of the Liquidation Basis of Accounting Accrued Liquidation Costs Example 2.13: Liquidation Is Not Imminent Organization and Nature of Business Example 2.14: Going Concern—Substantial Doubt Remains—Contingent on Raising Capital Example 2.15: Going Concern—Substantial Doubt Remains—Contingent on Obtaining Financing Example 2.16: Going Concern—Substantial Doubt—Management's Plans

AUTHORITATIVE LITERATURE

      Subtopics

ASC 205, Presentation of Financial Statements, is divided into four subtopics:

       ASC 205‐10, Overall

       ASC 205‐20, Discontinued Operations

       ASC 205‐30, Liquidation Basis of Accounting

       ASC 205‐40, Going Concern

Scope and Scope Exceptions

ASC 205‐10 The guidance in ASC 205‐10 applies to:

       All subtopics in ASC 205‐10 unless explicitly excluded

       Business entities and not‐for‐profit entities(ASC 205‐10‐15‐1)

ASC 205‐20 The guidance in 205‐20 applies to either:

       A component of an entity or a group of components that is disposed of or is classified as held for sale, or

       A business or nonprofit entity that, on acquisition, is classified as held for sale.(ASC 205‐20‐15‐2)

      The guidance does not apply to oil and gas properties that use the full‐cost method of accounting prescribed by the SEC. (ASC 205‐20‐15‐3)

ASC 205‐30 ASC 205‐30 does not apply to companies registered under the Investment Company Act of 1945. (ASC 205‐30‐15‐1)

ASC 205‐40 ASC 205‐40 applies to all entities. (ASC 205‐40‐15‐1)

PRACTICE ALERT

      While SEC comments pertain to public entities, their comments can provide valuable practice pointers for nonpublic entity financial statement preparers. In the areas covered in this Topic, the SEC has commented in recent years that preparers should consider carefully:

       Why current earnings before taxes and depreciation are not comparable to the corresponding prior period measures due to the reclassifications of devices from inventory to property, plant, and equipment and the lack of inclusion of periodic depreciation expenses related to equipment leasing revenue.

       Whether the operations they have disposed of meet the criteria to be accounted for as discontinued operations.

       Whether

Скачать книгу