Discontinued Operations 205-20 worksheet

Discontinued Operations 205-20 worksheet - Worksheet...

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Worksheet Discontinued Operations ASC 205-20 1. Define a component. A component of an entity comprises operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. A component of an entity may be a reportable segment or an operating segment §, a reporting unit §, a subsidiary, or an asset group §. 2. What conditions must be met in order to report a component as a discontinued operation? if both of the following conditions are met: a. The operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction. b. The entity will not have any significant continuing involvement in the operations of the component after the disposal transaction. 3. How is a discontinued operation reported? The results of operations of a component of an entity § that either has been disposed of or is classified as held for sale under the requirements of paragraph
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Discontinued Operations 205-20 worksheet - Worksheet...

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