This course provides a general overview of the six held for sale classification criteria outlined within ASC 360-10. This includes a discussion of the general impacts from held for sale classification as well as subsequent measurement requirements once a long-lived asset has been classified as held for sale. This course also addresses how changes to a planned sale impact the measurement and presentation of held for sale assets.
Learning Objectives
Upon completion of this course, you will be able to:
List the specific criteria that must be met for an asset to be classified as held for sale;
Recognize the accounting and reporting impacts from held for sale classification; and
Identify potential reporting impacts from changes to a plan of sale.
Major Topics
Held for Sale Criteria;
Management Commitment to a Sale;
FASB Implementation Guidance;
Impacts from Held for Sale Classification;
Measuring Held for Sale Assets;
Fair Value and Costs to Sell;
Depreciation Impacts; and
Changes to the Plan of Sale.
