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US GAAP requires presentation of discontinued operations in financial statements in certain circumstances. The objective of the requirement is to provide users with information about the portion of a reporting entity’s operations that will not continue and to provide historical financial results comparable with a company’s continuing operations.
This chapter provides guidance on evaluating whether a component of a reporting entity meets the criteria for discontinued operations reporting, and the presentation and disclosure requirements for reporting discontinued operations.
The guidance on presenting discontinued operations in the statement of cash flows is addressed in FSP 6 and the impact on earnings per share is addressed in FSP 7. For guidance on the held-for-sale accounting model of long-lived assets, see PPE 5.3.

PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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