Proposed FSP FAS 144-d—Amending the Criteria for Reporting a Discontinued Operation

This proposed FASB Staff Position (FSP) would amend the definition of a discontinued operation. It would thus establish when the income effects of a component of an entity would be reported in the discontinued operations section of the income statement under FASB Statement No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets. This proposed FSP also would amend the disclosure requirements of Statement 144 for all components of an entity that either have been disposed of or are classified as held for sale regardless of whether a component of an entity is reported in the income statement as a discontinued operation or within continuing operations.

For more information, see the following:

Issued: September 25, 2008

Comment Deadline: January 23, 2009