Discontinuing operations reporting: segregate and disclose assets, results and cash flows of discontinued components in financial statements. The Standard requires segregation of discontinuing operations-components disposed pursuant to a single plan that are a separate major line or geographical area and distinguishable operationally and financially. The initial disclosure event is either a binding sale agreement for substantially all attributable assets or board approval plus announcement of a detailed formal plan. Recognition and measurement follow other Accounting Standards; presentation and disclosure obligations start at the initial disclosure event and include descriptive, financial, tax and cash flow information, with restatement of comparative periods and ongoing updates until completion or abandonment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Discontinuing operations reporting: segregate and disclose assets, results and cash flows of discontinued components in financial statements.
The Standard requires segregation of discontinuing operations-components disposed pursuant to a single plan that are a separate major line or geographical area and distinguishable operationally and financially. The initial disclosure event is either a binding sale agreement for substantially all attributable assets or board approval plus announcement of a detailed formal plan. Recognition and measurement follow other Accounting Standards; presentation and disclosure obligations start at the initial disclosure event and include descriptive, financial, tax and cash flow information, with restatement of comparative periods and ongoing updates until completion or abandonment.
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