held for sale classification

Assets2

1. 310-10Overall310 Receivables

   ASC 310-10 is the Overall subtopic for receivables, providing general guidance on recognizing, measuring, presenting, and disclosing loans and trade receivables (including factoring, loan syndications, standby commitments to purchase loans, purchased credit card portfolios, and secured loans), plus a separate set of Subsections on acquisition, development, and construction (ADC) arrangements. Receivables held for the foreseeable future are carried at amortized cost basis (with credit losses under Topic 326), while nonmortgage loans held for sale are carried at the lower of amortized cost basis or fair value through a valuation allowance. The ADC Subsections tell a lender whether an arrangement in which it participates in expected residual profit is a loan, a real estate investment, or a real estate joint venture; most of the old impairment/TDR guidance in this subtopic was superseded by ASU 2016-13 and ASU 2022-02, leaving modification disclosures behind.

2. 360-10Overall360 Property, Plant, and Equipment

   ASC 360-10 governs the accounting for property, plant, and equipment and, in separate "Impairment or Disposal of Long-Lived Assets" Subsections, the impairment testing of long-lived assets held and used and the measurement, presentation, and disclosure of long-lived assets to be disposed of. Cost (including capitalized interest) is allocated to periods through systematic and rational depreciation (360-10-35-4). A held-and-used asset group is written down only if its carrying amount fails an undiscounted cash flow recoverability test, and then only down to fair value (360-10-35-17); held-for-sale assets are measured at the lower of carrying amount or fair value less cost to sell and are not depreciated (360-10-35-43).