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.
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 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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
