AS - 24 - Discontinuing Operations

Discontinuing operations reporting requires separate disclosure of assets, liabilities, pre-tax results, cash flows and timing.

The Standard requires separate identification, presentation and disclosure of discontinuing operations: components disposed of under a single plan that are a separate major line or geographic area and operationally distinguishable. The initial disclosure event is a binding sale agreement or board approval plus announcement of a detailed plan. From that period entities must disclose description, segment classification, dates, carrying amounts of assets and liabilities to be disposed, attributable revenue and expenses, pre-tax profit or loss and related tax, and net cash flows; disclosures must be updated until completion or abandonment and comparatives restated.