long-lived asset

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).

ASC 410-10 is a purely navigational "Overall" subtopic within the Asset Retirement and Environmental Obligations Topic. Its sole purpose is to explain the difference between Subtopic 410-20 (asset retirement obligations, the associated asset retirement cost, and environmental remediation liabilities arising from normal operation of a long-lived asset) and Subtopic 410-30 (environmental remediation liabilities generally). It contains no independent recognition or measurement rules.