Accounting Standards Codification

Reporting the discontinued operations separately from continuing operations is considered to be important for the different stakeholders such as investors and creditors among others. It provides the stakeholders with necessary information that help them to assess the effects of disposal transactions on the ongoing operations of the entity. However, the disposal transaction has to meet some criteria so that it can be accounted for as discontinued operations. The entity also has to be aware of the reporting procedures and guidelines that guide the…..

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