Wiley GAAP: Financial Statement Disclosure Manual. Joanne M. Flood

      1  Authoritative Literature Subtopics Scope and Scope Exceptions ASC 205‐10 ASC 205‐20 ASC 205‐30 ASC 205‐40

      2  Practice Alert

      3  Disclosures and Presentation Requirements ASC 205‐10, Overall Comparative Statements Full Set of Financial Statements Order of Data Changes Affecting Comparability Presentation Disclosure ASC 205‐20, Discontinued Operations Determining When a Disposal Should Be Presented as a Discontinued Operation Presentation—Income Statement Presentation—Balance Sheet Disclosures for Assets Sold or Held for Sale Change to a Plan of Sale Continuing Involvement Disclosures Required for a Discontinued Operation Comprising a Component or Group of Components of an Entity Disclosures Required for a Discontinued Operation Comprising an Equity Method Investment ASC 205‐30, Liquidation Basis of Accounting Determining When to Apply the Liquidation Basis of Accounting Measuring Assets and Liabilities Presentation Disclosure ASC 205‐40, Going Concern Overall Guidance Consideration of Management's Plans Disclosure Requirements

      4  Presentation and Disclosure Examples Example 2.1: Reclassification Example 2.2: Income Statement Presentation for Discontinued Operations—Face of the Income Statement Example 2.3: Computing the Gain or Loss on Disposal in the Year in Which the Discontinued Operation Is Classified as Held for Sale Example 2.4: Discontinued Operations—Adjustment of Loss Repeated in a Prior Period as a Discontinued Operation Example 2.5: Discontinued Operations Reporting—in Periods after the Sale, Including Adjustment for Contingency Example 2.6: Discontinued Operations—Note Disclosure in Years Subsequent to the Year in Which the Discontinued Operation Was Classified as Held for Sale Example 2.7: Discontinued Operations—Note Disclosure in Years Subsequent to the Year in Which the Discontinued Operation Was Classified as Held for Sale Example 2.8: Note—Discontinued Operation—Not a Strategic Shift Example 2.9: Basis of Presentation—Liquidation Basis of Accounting Example 2.10: Statement of Net Assets in Liquidation Example 2.11: Statement of Changes in Net Assets in Liquidation Example 2.12: Note—Liquidation Is Imminent Liquidation of Company Plan of Liquidation Financial Statement Presentation Adoption of the Liquidation Basis of Accounting Accrued Liquidation Costs Example 2.13: Liquidation Is Not Imminent Organization and Nature of Business Example 2.14: Going Concern—Substantial Doubt Remains—Contingent on Raising Capital Example 2.15: Going Concern—Substantial Doubt Remains—Contingent on Obtaining Financing Example 2.16: Going Concern—Substantial Doubt—Management's Plans

       ASC 205‐10, Overall

       ASC 205‐20, Discontinued Operations

       ASC 205‐30, Liquidation Basis of Accounting

       ASC 205‐40, Going Concern

       All subtopics in ASC 205‐10 unless explicitly excluded

       Business entities and not‐for‐profit entities(ASC 205‐10‐15‐1)