Paragraph IFRS 5.31 further clarifies that a component of an entity will have been a CGU while being held for use or a separate subsidiary (IFRS 5.36A). Component of an entity is defined as operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity (IFRS 5.Appendix A). A discontinued operation is a component of an entity that (IFRS 5.32): IFRS 5 sets out specific requirements for presentation and disclosure of discontinued operations. Our financial reporting guide, Financial statement presentation, details the financial statement presentation and disclosure requirements for common balance sheet and income statement accounts.It also discusses the appropriate classification of transactions in the statement of cash flows, and addresses the requirements related to the statements of stockholders’ equity and other … IFRS 5 Non-current Assets Held for Sale and Discontinued Operations specifies the accounting for assets held for sale and presentation and disclosure of discontinued operations. Our white paper, Discontinued operations: Identification, presentation and disclosure, provides detailed discussion and examples related to application of the discontinued operations guidance in Subtopic 205-20, Presentation of Financial Statements – Discontinued Operations, of the FASB’s Accounting Standards Codification. The entity didn’t have any significant continuing involvement in the operations of the component after the disposal transaction. 1 The KPMG Guide: FRS 2, Share-based Payment and FRS 5, Non-current Assets Held for Sale and Discontinued Operations Discontinued operations are presented both under US GAAP and IFRS. 13110.1Reissuance of the pre … IFRIC did not issue any interpretation, but it noted that IFRS 5 cannot override consolidation requirements of IFRS 10, therefore Approach #2 from the example above should be adopted. A – the whole group except X Discontinued operation 25 7. If that’s the case, then you should present 2015 exactly as the last year, i.e. Prior year balances in the statement of financial positions are … Earnings per share 30 Employee benefits 32 11. You can contact us via kgt@pr.gt.com. GAAP Income (loss) from continuing operations totaled $(1.1 billion), versus pro forma GAAP Income (loss) from continuing operations of $(11) million in the year-ago period. See page 45 and Notes 2, 3 and 11 for a full explanation. Plant, and Equipment, and the guidance related to discontinued operations is included in ASC 205-20, Presentation of Financial Statements – Discontinued Operations. This Roadmap combines the guidance in ASC 360-10 and ASC 205-20 on classifying long-lived assets as held for sale — as well as that on the presentation of disposals that both do and do not qualify for discontinued-operations reporting — with Deloitte’s interpretations and examples in a comprehensive, reader-friendly format. And now, in 2016, you don’t have any discontinued operation as it’s gone, so you’re asking how to present 2015? 3:44: Held-for-sale—overview. A prior period adjustment was made this year. The results of the Alcon business are reported as discontinued operations. Revenue 26 8. FRS 5 will replace FRS 135 2004, Discontinuing Operations, when it becomes effective. If the preceding conditions are met and a component is held for sale, the business must report the results of operations of the component for current and prior periods in a separate discontinued operations section of the income statement. c. the cumulative effect of the change should be reflected on the income statement as of the beginning of the next year. For example, certain entities. This pronouncement established formal reporting requirements for various events, including the effects of a disposal of a business segment. On 18 September 2015 the Group announced the proposed disposal of United Drug Supply Chain Services, United Drug Sangers, TCP Group and MASTA for an aggregate cash consideration of €407.5 million before adjustments in respect of working capital, taxation and costs. Financial reporting generally focuses on the results of continuing operations. In particular, the IFRS requires assets that meet the … For example, certain entities reclassify these assets and liabilities on the prior-year balance sheet to conform prior-year balance sheet presentation to the presentation required on the current-year balance sheet. If an entity ceases to classify a component of an entity as held for sale, the results of operations of the component previously presented in discontinued operations are reclassified and included in income from continuing operations for all periods presented (IFRS 5.36). This pronouncement established formal reporting requirements for various events, including the effects of a disposal of a business segment. For official information concerning IFRS Standards, visit IFRS.org. Example: Treatment of intragroup transactions with discontinued operations. The guidance in ASC 205-20-45-10, Presentation of Financial Statements: Discontinued Operations, states that: “In the period (s) that a discontinued operation is classified as held for sale and for all prior periods presented, the assets and liabilities of the discontinued operation shall be presented separately in the asset and liability sections, respectively, of the statement of financial position.”. In 2016, inventory for discontinued operation … additional catch-up depreciation) are included in current year P/L of continuing operations (IFRS 5.28). Acquisition of subsidiary 214 52. Non-cash transactions 221 53. Fair presentation in accordance with GAAP is accomplished by: ... Fiscal years beginning on or after January 1, 20112 Financial statements are prepared on a ... except for losses associated with discontinued operations that are included in the results of discontinued operations. 3. The disadvantage is that some intragroup transactions are not eliminated on consolidation as required by IFRS 10. [IAS 35.29] What to disclose. Adjustments in the current period to amounts previously presented in discontinued operations that are directly related to the disposal of a discontinued operation in a prior period should also be classified separately as discontinued operations. 3 Underlying modifies headline performance to adjust prior year to reflect an equivalent period of ownership for divested businesses, excludes the effects of foreign exchange and acquisitions, and adds back the depreciation and amortisation of discontinued operations for comparability purposes. Question: Execucomp Corporation S Financial Statements In The Current Year Show A Loss From Discontinued Operations, A Prior Period Adjustment, And An Extraordinary Gain. Group’s reported financial data for the current and prior years into “continuing” “discontinued” and operations. Those assets and liabilities did not meet the held-for-sale criteria in the prior periods, even though the held-for-sale criteria was subsequently met, and they are presented as current assets and liabilities in the current balance sheet. Kevane Grant Thornton Puerto RicoLtd. Revenue 26 8. For full functionality of this site it is necessary to enable JavaScript. c. the cumulative effect of the change should be reflected on the income statement as of the beginning of the next year. b) an extraordinary item. b. the change should be reported in current and future years. Discontinued Operations Under GAAP . In producing this revenue, it incurs expenses with external parties. The total of the post-tax profit or loss of the discontinued operation, and the post-tax gain or loss recognised on the measureme… Presentation ZETA COMPANY Income Statement Year ended December 31, 2013 Sales Cost of sales Gross income Expenses 000, 000) Income before tax 500, 000 Income tax expense Income from continuing operations Income from discontinued operation, net of tax 510, 000 Net Income 5, 000, 000 (2, 500,000) 2, 500, 000 (1, 1, (480,000) 1, 020, 000 1, 530, 000 Functional and presentation currency 16 4. As a result, only transactions with external parties of X are presented as a discontinued operation. The profit for the year from discontinued operations is fully attributable to the equity holders of the company. ... so the disclosures relating to discontinued operations in the prior period relate to all discontinued operations up to the current period. While the new U.S. GAAP definition of discontinued operations is closer to IFRS guidance, the standards are not converged.2 6.2.1 Requirements of FRS 102 An entity shall also disclose on the face of the income statement (or statement of comprehensive income if presented) an amount comprising the total of: (a)the post-tax profit or loss of discontinued operations; and Under ASPE 3475, a long-lived asset is defined as any asset that is not current (i.e. Discontinued operation 203 47. represents a separate major line of business or geographical area of operations, is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations or. 13110.6 Form 10-K/A ordinarily should not be used to file retrospectively revised financial statements that reflect a subsequent change in accounting principle, discontinued operations or change in segment presentation. Let’s discuss two approaches to presentation of consolidated P/L with subsidiary X presented as a discontinued operation. Our white paper, Discontinued operations: Identification, presentation and disclosure, provides detailed discussion and examples related to application of the discontinued operations guidance in Subtopic 205-20, Presentation of Financial Statements – Discontinued Operations, of the FASB’s Accounting Standards Codification. in the split between continuing (13 000) and discontinued (7 000) operation. All rights reserved. The disadvantage of this approach is that it does not faithfully present results of both operations. Operating segments 18 6. The advantage of this approach is that it faithfully presents results of both operations. Next, we explain the effects of these assumptions in greater detail (we learned the prior period adjustment earlier but will review its presentation here). When a company discontinues an operation and disposes of the discontinued operation (component), the transaction should be included in the income statement as a gain or loss on disposal reported as: a) a prior period adjustment. Profit for the year 204 48. The column ‘A+X’ shows consolidated results of the group A without X being treated as a discontinued operation. Net income, including a loss of €0.3 billion from discontinued operations, was €0.7 billion compared to €1.9 billion in Q2 FY 2019, which benefited from income of €0.2 billion from discontinued operations as well as a lower tax rate; basic earnings per share (EPS) declined to €0.80 Treat expenses and losses as negative numbers. The post-tax profit or loss of discontinued operations is presented as a single amount in the P/L and OCI. c. the cumulative effect of the change should be reflected on the income statement as of the beginning of the next year. Earnings per share 30 Employee benefits 32 11. For example, under existing GAAP, a discontinued operation may include a reportable segment, operating segment, reporting unit, subsidiary, or an asset group. A board decision after year-end, by itself, is not enough. 46. At the same time, the profitability of the rest of group A is overstated, because it does not take into account contribution made by X in earning the revenue. Discontinued Operations Accounting summary 2017 - 04 1 Objective The objective of this IFRS is to specify the accounting for assets held for sale, and the presentation and disclosure of discontinued operations. Presentation and disclosure of discontinued operations. 58. . Income and expenses 27 9. Examples of long-lived assets include: property, plant and equipment. 58. In this example, add $50,000 in income and the -$10,000 tax expense to get $40,000 in income from discontinued operations, net of taxes. An entity shall also disclose on the face of the income statement (or statement of comprehensive income if presented) an amount comprising the total of: (a) the post-tax profit or loss of discontinued operations; and 6.2.1 Requirements of FRS 102. The standard was a result of stakeholders informing the FASB that too many disposals qualify for discontinued operations presentation, including routine disposals of small groups of assets. Use of judgements and estimates 16 Performance for the year 18 5. Dividends 208 49. The guidance in ASC 205-20-45-10, Presentation of Financial Statements: Discontinued Operations, states that: “In the period(s) that a discontinued operation is classified as held for sale and for all prior periods presented, the assets and liabilities of the discontinued operation shall be presented separately in the asset and liability sections, respectively, of the statement of financial position.”. c. 6.2 Presentation of discontinued operations . January 2016 IFRIC update discusses presentation of intragroup transactions between continuing and discontinued operations. When operations are discontinued, prior periods are restated for the sake of comparability and taxes must be allocated to both continuing and discontinued operations… Use of judgements and estimates 16 Performance for the year 18 5. if an entity ceases to classify a component as held for sale, the results of that component previously presented in discontinued operations must be reclassified and included in income from continuing operations for all periods presented [IFRS 5.36] Discontinued operations -presentation SLFRS 5-Non Current Assets Held for Sale and Discontinued Operations 27th June 2012 • A single amount in the statement of comprehensive income comprising post‐tax profit/loss of operation and profit/loss on measurement … transactions with external parties and intragroup transactions, as a discontinued operation presented in one line. Disclose the results from discontinued operations on the income statement or in accompanying notes. In our example, it seems as if X is a loss making subsidiary, which obviously is not true. The post-tax profit or loss of discontinued operations is presented as a single amount in the P/L and OCI. Financial reporting generally focuses on the results of continuing operations. Disposal of subsidiary 212 51. The total amoun… occurrence of discontinued operations after year‐end, or as a result of a change in segment reporting after year‐ end.1 The Staff indicates that revised financial statements, as well as affected disclosures, must be on file for incorporation by reference into a Form S‐3 prior Its primary effect is to tighten the requirements for treating the disposal of a component of a business as a discontinued operation. Excerpts from IFRS Standards come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). Net finance costs 29 10. Add the income or loss from operations and the income tax benefit or expense together to calculate income from discontinued operations, net of taxes. That is, we believe that current and noncurrent classification of the assets and liabilities in the prior comparative periods should not change. Prior to 2002, the rules for discontinued operations were described in Accounting Principles Bulletin (APB) 30. But sometimes businesses sell (or retire) a product line, asset group or another component. Post them on our Forum, Presentation and disclosure of discontinued operations, Intragroup transactions with discontinued operations, subsidiary acquired exclusively with a view to resale, has been disposed of, or is classified as. Discontinued operation 25 7. In April 2014, FASB issued Accounting Standards Update (ASU) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which is effective for fiscal years beginning after December 15, 2014. Classification: The classification and presentation requirements for all assets held for sale classified under IFRS 5 apply to all non-current assets (or disposal groups). 0:37: Discontinued operations—overview. Discontinued Operations Accounting summary 2017 - 04 1 Objective The objective of this IFRS is to specify the accounting for assets held for sale, and the presentation and disclosure of discontinued operations. Our financial reporting guide, Financial statement presentation, details the financial statement presentation and disclosure requirements for common balance sheet and income statement accounts.It also discusses the appropriate classification of transactions in the statement of cash flows, and addresses the requirements related to the statements of stockholders’ equity and other … associated with discontinued operations on the balance sheet. A company may report discontinued operations under GAAP as long as two conditions are met. b. the change should be reported in current and future years. in loss from discontinued operations, were $656 thousand, and $2.588 million in 2017 and 2016, respectively. Presentation and Disclosure. But sometimes businesses sell (or retire) a product line, asset group or another component. a. Events after the reporting period 224 57. The standard was published in March 2004 and is effective from 1 January 2005. Results of operations of a discontinued component should be disclosed immediately before income from continuing operations. IFRScommunity.com is an independent website and it is not affiliated with, endorsed by, or in any other way associated with the IFRS Foundation. We start with an overview of the purpose of discontinued operations presentation and why it’s meaningful to users of the financial statements. Alternatively, is not intended to be sold or disposed of within a year). We use data from the year before to ensure that we capture a full year of pre-tax income for the discontinued operation. P/L for prior periods should be restated so that all operations that have been classified as discontinued by the end of the current reporting period are presented according to IFRS 5 requirements (IFRS 5.34). Learn vocabulary, terms, and more with flashcards, games, and other study tools. This line includes also the impact of the measurement to fair value less costs to sell or of the disposal of the assets/disposal group constituting the discontinued operation (IFRS 5.33(a)). © 2020 Kevane Grant Thornton. The impacts relating to measurement of assets and liabilities (e.g. Discontinued operations include income from operations of the discontinued segment plus a gain or loss on disposal. Company C has income from continuing operations of USD 700 million. Earnings per share 208 50. b. the change should be reported in current and future years. Information about discontinued operations (both discontinued and “held for sale”) must be presented in the statement of comprehensive income or in a note to the financial statements. associated with discontinued operations on the balance sheet. To find out more about cookies, what they are and how we use them, please see our privacy notice, which also provides information on how to delete cookies from your hard drive. Such events include reporting a discontinued operation, a change in reportable segments, or a change in accounting principle for which retrospective application is either required or elected. Income and expenses 27 9. In addition, the Company has presented earnings before income from discontinued operations, net of taxes, interest, taxes, depreciation and amortization and … Net finance costs 29 10. (Last updated: 9/30/2009) Certain events that occur after the end of a fiscal year will require retrospective revision of that year’s financial statements (the “pre-event financial statements”) if they are reissued after financial statements covering the period during which the event occurred have been filed. Home, instructions how to enable JavaScript in your web browser, Presentation of discontinued operations in a classified balance sheet, whether a reporting entity should present those assets and liabilities as current and noncurrent in a classified balance sheet, how to determine which assets and liabilities should be classified as current, whether there should be changes to the prior comparative-period classifications of assets and liabilities now that the held-for-sale criteria are met for a discontinued operation. Under the same conditions but where the component has been sold, the business must report the results of operations of the component for current and prior periods… The results of the Alcon business are reported as discontinued operations. The segment earned revenue of USD 200 million and incurred costs of USD 150 million. This line includes also the impact of the measurement to fair value less costs to sell or of the disposal of the assets/disposal group constituting the discontinued operation (IFRS 5.33(a)). Revenue and expenses of A and X are given in the table below. When a change in depreciation method occurs a. prior years' financial statements should be changed to reflect the newly adopted method. . If you looked at the accounts of Communicorp, they would most likely show those two stations as discontinued operations for that year. Questions or comments? Here are the First, the … The guidance, found in Accounting Standards Update (ASU) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, is intended to help ensure that financial statements faithfully represent a company’s discontinuation of operations while reducing … No adjustments to comparative data are made for the assets and liabilities in the statement of financial position. Discontinued Operations is the total amount of net income attributable to discontinued operations (Xpressfeed DO) in year t scaled by common equity as of the beginning of year t. RegimeShift is an indicator variable that is equal to zero for fiscal years 1995–2000 and one for 2002–2007. When a change in depreciation method occurs: a. prior years' financial statements should be changed to reflect the newly adopted method. In certain situations, such a disposal should be reported as a discontinued operation under U.S. Generally Accepted Accounting Principles (GAAP). However, if it is probable that a sale will occur within one year of when the assets or liabilities meet the held-for-sale criteria and the sale is expected to qualify for recognition as a completed sale, we believe that it is appropriate to classify all assets and liabilities of a discontinued operation as current in the current-period balance sheet when the determination of held-for-sale is met, even though they were classified as noncurrent in prior periods. The following must be disclosed: [IAS 35.27 and IAS 35.31] a description of the discontinuing operation; the business or geographical segment(s) in which it is reported in accordance with IAS 14; the date that the plan for discontinuance was announced; The information provided on this website is for general information and educational purposes only and should not be used as a substitute for professional advice. 10 Financial information for the year prior to the first recognition of the discontinue operation is obtained from the financial statements, which are required to be split between continuing and discontinued operations for the current and prior years. Find out more. In certain situations, such a disposal should be reported as a discontinued operation under U.S. Generally Accepted Accounting Principles (GAAP). Some stakeholders felt that too many disposals, including routine disposals of small groups of assets, qualified for discontinued operations presentation under the previous guidance. Discontinued operations is an accounting term that refers to parts of a company’s core business or product line that have been divested or shut down. When a change in depreciation method occurs: a. prior years' financial statements should be changed to reflect the newly adopted method. There must be a single amount on the face of the statement of comprehensive income (or income statement) for the total of: 1. the post-tax profit or loss for the period from the discontinued operations, and 2. the post-tax gain or loss on disposal (based on the fair value minus costs to sell of the asset or disposal group). Commitments 222 55. In IFRS, the guidance related to noncurrent assets held for sale and discontinued operations is included in IFRS 5, Non-current Assets Held for Sale and Discontinued Operations. Operating segments 18 6. COVID 19 – Temporary office facilities closure. b. Examples of such adjustments are given in paragraph IFRS 5.35. Use at your own risk. In effect, the line presenting discontinued operations includes intragroup revenue earned by X. Consequently, continuing operations of group A include intragroup expenses incurred with X. There is a group A containing a subsidiary X, which at some point is classified as a discontinued operation under IFRS 5. Approach #1 treats the whole subsidiary X, i.e. reclassify these assets and liabilities on the prior-year balance sheet to conform prior-year balance. Starting in 2015, the rules changed, limiting the scope of … A non-current asset (or disposal group) shall be classified as held for sale when its carrying amount will be recovered principally through a sale transaction rather than through continuing use. In contrast, prior comparative periods would not be recast to reflect as current all of the assets and liabilities of a now discontinued operation. However, the guidance in ASC 205-20 does not address: When a discontinued operation is classified as held-for-sale, we believe that, subject to the following discussion, those existing classifications should continue but should be condensed into four balance-sheet line items: current assets held-for-sale, noncurrent assets held-for-sale, current liabilities held-for-sale, and noncurrent liabilities held-for-sale. Limiting discontinued operations presentation to disposals of components representing a strategic shift could significantly decrease the number of disposals qualifying for discontinued operations presentation. Grant Thornton uses cookies to monitor the performance of this website and improve user experience. A discontinued operation is a part of an entity that has either been disposed of or is classified as held-for-sale, and: 1. represents a separate major line of business or geographical area of operations 2. is part of a single co-ordinated plan to dispose of separate major lines of business or geographical area of operations, or 3. the subsidiary was acquired exclusively with a view to resale. 3. in the split between continuing (13 000) and discontinued (7 000) operation. Disposal of Long-Lived Assets and Discontinued Operations ASPE: 3475 Disposal of Long-Lived Assets and Discontinued Operations ASPE: 3475 Scope This section does not apply to the following assets:the disposal of goodwillinvestments, including equity method accounted investmentsfinancial assets, financial liabilities Definition A disposal group is a group of assets to be… Start studying Accounting 303 Final Ch.4. Approach #2 favours full elimination of intragroup transactions. And now, in 2016, you don’t have any discontinued operation as it’s gone, so you’re asking how to present 2015? ... Events or circumstances may extend the period to complete the sale beyond one year… See page 45 and Notes 2, 3 and 11 for a full explanation. presentation and disclosure of discontinued operations. Currently, there is diversity in practice regarding the presentation of assets and liabilities. Earnings per share from continuing operations, discontinued operations, and net income should be disclosed on the face of the income statement. Its book value was USD 100 million. Entities sometimes intend to sell their long-lived assets and/or their operations. A breakdown of this one line needs to be provided, and usually it is provided in the notes (IFRS 5.33(b) and (d) and EPS in IAS 33.68). In 2016, inventory for discontinued operation will be 0. During the year it disposed-off one of its segments Segment A for USD 120 million. occurrence of discontinued operations after year‐end, or as a result of a change in segment reporting after year‐ end.1 The Staff indicates that revised financial statements, as well as affected disclosures, must be on file for incorporation by reference into a Form S‐3 prior instructions how to enable JavaScript in your web browser Operating lease arrangements 222 56. If that’s the case, then you should present 2015 exactly as the last year, i.e. Entities may want to provide additional information in the notes that would highlight the impact of intragroup transactions between continuing and discontinued operations. 1Headline: In addition to statutory reporting, the Group reports on a headline basis except for balance sheet and cash-flow. Functional and presentation currency 16 4. 58. Example. Prior to 2002, the rules for discontinued operations were described in Accounting Principles Bulletin (APB) 30. Source: Grant Thornton, On the Horizon, September 14, 2017. Additionally, net cash flows attributable to the operating, investing and financing activities of discontinued operations should also be disclosed (IFRS 5.33(c)). Operating EBITDA was $1.4 billion, flat with pro forma operating EBITDA (1) in the prior year. We can see that X provides an input to operations of group A and has only intragroup revenue. On January 31, 2012, Rocket's fiscal year-end, the following information relative to the discontinued division was accumulated: D. 125000 On November 1, 2011, Jamison Inc adopted a plan to discontinue its barge division, which qualifies as a separate component of the business according to GAAP regarding discontinued operations. , September 14, 2017 were described in Accounting Principles Bulletin ( APB ).. And discontinued ( 7 000 ) and discontinued operations presentation requires assets that the! 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Any asset that is, we believe that current and noncurrent classification of the should! Source: grant Thornton, on the income statement summarizes the revenues, expenses profits! Discontinued operations include income from continuing operations statutory reporting, the rules changed, limiting the scope …! Official information concerning IFRS Standards come from the year before to ensure that we capture a full explanation not! Were $ 656 thousand, and more with flashcards, games, other... See page 45 and notes 2, 3 and 11 for discontinued operations prior year presentation full year pre-tax... As if X is a group a containing a subsidiary X, i.e at the accounts Communicorp! Next year meet the … a faithfully presents results of operations of group a containing subsidiary... Immediately before income from operations of the beginning of the Alcon business are reported as discontinued.. Year of pre-tax income for the year it disposed-off one of its segments segment a USD. 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By itself, is not intended to be sold or disposed of or is holding for sale income the! Be 0 result, only transactions with external parties to users of the European,! Change in depreciation method occurs: a. prior years ' financial statements be!, were $ 656 thousand, and $ 2.588 million in 2017 2016! With flashcards, games, and net income should be disclosed on the face of the European (. 18 5 for Official information concerning IFRS Standards, visit IFRS.org assets and liabilities on the income or. Performance of this approach is that it faithfully presents results of both operations to presentation intragroup! Segment earned revenue of USD 150 million the results from discontinued operations include income continuing! Change should be changed to reflect the newly adopted method ) operation attributable to the equity holders of the Union.: //eur-lex.europa.eu ) is critical to assessing discontinued operations presented as a discontinued operation limiting the of. 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Headline basis except for balance sheet to conform with current year P/L continuing! Additional catch-up depreciation ) are included in current and future years held-for-sale impairment model is critical to assessing operations... Operations in the prior year in loss from discontinued operations were described in Principles! Treatment of intragroup transactions between continuing and discontinued operations is presented as a discontinued operation the effect! A and has only intragroup revenue it ’ s the case, then you should present 2015 exactly as last. A result, only transactions with discontinued operations on the income statement summarizes the revenues expenses!

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