{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/20/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"205","topic_title":"Presentation of Financial Statements","subtopic":"205-20","subtopic_title":"Discontinued Operations","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-20-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic provides guidance on <span class=\"sfragment\" id=\"sfr_67D08D36-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">the presentation and disclosure requirements for discontinued operations. A discontinued operation may include a <a href=\"/glossary/c/#component-of-an-entity\" class=\"term\" title=\"A component of an entity comprises operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the entity. A component of an entity may be a reportable segment or an operating segment, a reporting unit, a subsidiary, or an asset group.\"><span>component of an entity</span></a> or a group of components of an entity, or a <a href=\"/glossary/b/#business\" class=\"term\" title=\"Paragraphs 805-10-55-3A805-10-55-4805-10-55-5805-10-55-6 and 805-10-55-8805-10-55-9 define what is considered a business.\"><span>business</span></a> or <a href=\"/glossary/n/#nonprofit-activity\" class=\"term\" title=\"An integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing benefits, other than goods or services at a profit or profit equivalent, as a fulfillment of an entity's purpose or mission (for example, goods or services to beneficiaries, customers, or members). As with a not-for-profit entity, a nonprofit activity possesses characteristics that distinguish it from a business or a for-profit business entity.\"><span>nonprofit activity</span></a>.</span></span></div></div>","snippet":"This Subtopic provides guidance on the presentation and disclosure requirements for discontinued operations. A discontinued operation may include a component of an entity or a group of components of an entity, or a busin…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:790acb3df3f6381ba27ff862df7bb5f2b96c0449ecfd7c5a73422de91d07117f","downloaded_from":"2026-09-09T22:52:50.918Z","last_downloaded_at":"2026-09-09T22:52:50.918Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483501","source_sha256":"3b9200beaab32f9e770a93158bb736fdccc62a87253534ed879313af39c86584"}},{"citation":"205-20-05-2","para":"05-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_67D08E30-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The required disclosures about discontinued operations vary depending on the nature of the discontinued operation. For example, if a discontinued operation includes a component or group of components of an entity that is not an equity method investment, a more comprehensive set of disclosures about the discontinued operation is required. If the discontinued operation includes an equity method investment, or a business or nonprofit activity that is classified as held for sale on acquisition, a more limited set of disclosures is required (see the flowchart in paragraph <a href=\"/asc/205/20/#205-20-55-82\" class=\"xref\">205-20-55-82</a> for an illustration).</span></span></div></div>","snippet":"The required disclosures about discontinued operations vary depending on the nature of the discontinued operation. For example, if a discontinued operation includes a component or group of components of an entity that is…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:36b59a456248e2c25ba7934d24853af1ef534cac9ed0bf209377e8d8e3b79f14","downloaded_from":"2026-09-09T22:52:50.918Z","last_downloaded_at":"2026-09-09T22:52:50.918Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483501","source_sha256":"3b9200beaab32f9e770a93158bb736fdccc62a87253534ed879313af39c86584"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3f49e16c42b2911dc4700a9976cd3c85c437a04129f9db45ba5c2a623e7e17a3","downloaded_from":"2026-09-09T22:52:50.918Z","last_downloaded_at":"2026-09-09T22:52:50.918Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483501","source_sha256":"3b9200beaab32f9e770a93158bb736fdccc62a87253534ed879313af39c86584"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3dbdd4120b04271fbf0ce8f3e16d1ebe31d09167a5b0d988ab4c40ecb0849da","downloaded_from":"2026-09-09T22:52:50.918Z","last_downloaded_at":"2026-09-09T22:52:50.918Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483501","source_sha256":"3b9200beaab32f9e770a93158bb736fdccc62a87253534ed879313af39c86584"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3dbdd4120b04271fbf0ce8f3e16d1ebe31d09167a5b0d988ab4c40ecb0849da","downloaded_from":"2026-09-09T22:52:50.918Z","last_downloaded_at":"2026-09-09T22:52:50.918Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147483501","source_sha256":"3b9200beaab32f9e770a93158bb736fdccc62a87253534ed879313af39c86584"}}