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kpmg discontinued operations

kpmg discontinued operations

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Delivering value up and downstream. This self-study is also mobile-compatible. Overview of a logical and … Individuals who register for any 2 KPMG Executive Education in-person seminars can save! Once this webcast has been presented, it will be available as a CPE-Eligible Self-Study. We provide a full range of assurance, tax and advisory team members who understand the industry and the issues that oil and gas companies face. Course Agenda. 11. All rights reserved. Ask about our group discounts too. 5.1 How to read this section 45 5.2 Ordinary shares issued in full for cash 48 5.3 Partly paid ordinary shares 49 5.4 Stock, scrip or share dividends 53 6. This course is designed to provide participants with a working knowledge of the basic accounting requirements for discontinued operations. Coca-Cola annual income from discontinued operations for 2018 was $0B, a NAN% decline from 2017. ... KPMG works with you to determine how you can best transform your organization in response to changes in today’s world and your organization’s strategy. 01:20 – What CFOs and controllers should be thinking about if considering bankruptcy; 03:30 – Pre-bankruptcy, including debt arrangements; 06:00 – When a sold business should be reclassified as a discontinued operation; 08:00 – During bankruptcy and financial reporting considerations under Chapter 11 protection; 13:35 – Post-bankruptcy, including fresh start accounting Adjusted earnings before interest, tax, The aim of AASB 5 is to enable users to understand the performance of the continuing business. CocaCola annual income from discontinued operations for 2018 was $0B, a NAN% decline from 2017. If you did not attend the live webcast, but are interested in earning CPE credit for participating in this webcast, visit KPMG Executive Education. Partner, Dept. KPMG explains ASC 230 cash flow classification issues and noncash disclosure requirements in detail. 2016) Sale and Discontinued Operations. We have consulted with, and this letter represents the views of, the KPMG network. The held-for-sale impairment model is critical to assessing discontinued operations. © 2020 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. Informing your decision-making. 5 Consideration of specific instruments 45. This live webcast will be converted to a CPE-eligible self-study and is available for a nominal fee through KPMG Executive Education. of Professional Practice, KPMG US, Senior Manager, Dept. All rights reserved. For more detail about the structure of the KPMG global organization, please visit https://home.kpmg/xx/en/home/misc/governance.html. By continuing to browse this site, you consent to the use of cookies. Revenue 33 8. Income taxes 47. Hours of Operation: Monday through Friday. Coca-Cola annual income from discontinued operations for 2019 was $0B, a NAN% decline from 2018. Income and expenses 34 9. Topics include: scope of ASC Topic 205-20 determining the component determining if disposed-of or held-for- For questions regarding course content, customized training, No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. Financial reporting impacts of coronavirus. special promotions, or general inquiries, please contact us as follows: Phone: +1 (201) 505-6062 7.4.3 Allocation of Interest to Discontinued Operations 107 7.4.4 Allocating Direct Expenses (but Not Indirect Expenses) to Discontinued Operations 107 7.4.5 Allocating the Cost of Shared Assets to Discontinued Operations 108 7.4.6 Intercompany Sales Between an Entity and a Discontinued Operation 108 7.4.7 Transition Services 109 The standard described Discontinued operations as such component of an entity (understand: a cash-generating unit or a group of cash-generating units) that either has been disposed of or is classified as held for sale, and at the same time: Represents a separate major line of … operations 38 4.6 Step 5: Identify dilutive POSs and determine . New York, NY 10154-0102. CocaCola income from discontinued operations for the twelve months ending September 30, 2020 was $0M, a NAN% increase year-over-year. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. Audit Standards Update - August, 2014 Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity https://home.kpmg/xx/en/home/misc/governance.html, determining if disposed-of or held-for-sale, determining if the strategic shift test is met. A discontinued operation is a component of an entity that (IFRS 5.32): has been disposed of, or is classified as held for sale, represents a separate major line of business or geographical area of operations, is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations or. Alternatively, an entity may present the analysis in the statement. We are pleased to present A Roadmap to Impairments and Disposals of Long-Lived Assets and Discontinued Operations.This Roadmap provides Deloitte’s insights into the guidance in ASC 360-10 1 and ASC 205-20 on impairments and disposals of long-lived assets and presentation of discontinued operations. For more information, call 201-505-6062 or email [email protected] Our comprehensive handbooks include discussion and analysis of significant issues for professionals in accounting and financial reporting. 14. us improve KPMG Executive Education. * Discounts cannot be combined and must be applied at time of initial registration. There is obviously a great incentive for entities with loss making businesses to classify them as discontinued operations and to present a much better set of results from continuing operations. * ... acquisitions, discontinued operations, share-based compensation, leases, bonds, securitizations, and equity investments. Discontinued operation 31 7. Share‑based payment arrangements 39 12. Determining if disposed-of or held-for-sale, Determining if the strategic shift test is met. We provide Q&As and examples, and discuss the impact of … This course is designed to provide participants with a working knowledge of the basic accounting requirements for discontinued operations. August 2016 kpmg.com.au KPMG Financial Reporting Insights KPMG’s review of 45 ASX200 entities Operating Segment disclosures CocaCola annual income from discontinued operations for 2019 was $0B, a NAN% decline from 2018. PwC serves some of the world’s largest national and international oil and gas companies. Advance Preparation: There is no advance preparation for this course. 345 Park Avenue For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance. For more details on the new standard, you can read the FASB in Focus and watch a video featuring FASB member Tom Linsmeier and project manager Phil Hood. For questions related to the KPMG Executive Education website or accessing a digital self-study, please contact our Help Desk. 13. 0:37: Discontinued operations—overview. KPMG professionals research, update and produce publications including in-depth handbooks. Discontinued operations Derivatives and hedging Remuneration Impairment Common adjustments by relative size (%) of total adjustments – 2015 We start with an overview of the purpose of discontinued operations presentation and why it’s meaningful to users of the financial statements. KPMG’s professionals have a vast industry knowledge and breadth of experience to help organizations improve their business performance and achieve bottom-line savings. Employee benefits 42. KPMG's 30th Annual Accounting & Financial Reporting Symposium is designed to help financial executives stay on top of this year's important developments and get a glimpse of what's next.The Symposium offers informative and interactive content to is a subsidiary acquired exclusively with a view to resale. Income taxes 47. KPMG in-depth guides. Receive timely updates on accounting and financial reporting topics from KPMG. explain accounting for discontinued operations. presentation and disclosure of discontinued operations. The Deloitte IFRS Global Office has published an IAS Plus Guide to IFRS 5 Assets Held for Sale and Discontinued Operations. KPMG Executive Education has developed and delivered over 1,000 internal and external programs on trending topics and emerging issues in the accounting and finance industry, taught by KPMG leaders, industry specialists, and highly regarded academics from prestigious universities. Email: [email protected], KPMG Executive Education Our white paper, Discontinued operations: Identification, presentation and disclosure, provides detailed discussion and examples related to application of the discontinued operations guidance in Subtopic 205-20, Presentation of Financial Statements – Discontinued Operations, of the FASB’s Accounting Standards Codification. Earnings per share 37. 3:44: Held-for-sale—overview. The designated results of operations must be reported as a discontinued operation within the financial statements if both of the following conditions are present: Accounting for Income Taxes Considerations of Final Regulations page 2 Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Use our Accounting Research Online website for financial reporting resources. Delivering insights to financial reporting professionals. FRS 5 will replace FRS 135 2004, Discontinuing Operations, when it becomes effective. ASC 360-10 specifies the accounting and reporting for long-lived assets that are being … Alternative performance measure 54. Read more. This self-study is also mobile-compatible. Discontinued operations is also an issue the FASB addressed as it kicks off its simplification initiative (mentioned in the last issue) to reduce complexity in accounting rules. Guidance, updates and news covering financial reporting impacts of COVID-19. Podcast contents. Volume Discount! Operations. © 2020 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. The amendments apply prospectively. Your feedback or suggestions about our website and training courses will help Discontinued operations are the results of operations of a component of an entity that is either being held for sale or which has already been disposed of. * Get a 10% discount on KPMG Executive Education digital self-studies when you purchase four or more courses in a single transaction. Employee benefits 39. 1 The KPMG Guide: FRS 2, Share-based Payment and FRS 5, Non-current Assets Held for Sale and Discontinued Operations In reality, the thrust of the standard is intended to restrict which assets can be classified as held for sale, and which operations can be shown as being discontinued. The Group has elected to disclose a single amount of post‑tax profit or loss of discontinued operations in the statement of profit or loss and OCI, and has analysed that single amount into revenue, expenses and the pre‑tax profit or loss in Note 6. related to discontinued operations as a result of new interpretive guidance should be backwards traced to discontinued operations. Topics include: By the end of this course, participants should be able to: Keywords: ASC 205-20, Discontinued Operations, Discontinued Ops, Accounting. 8:00 AM to 6:00 PM Eastern Time. Sharing our expertise and perspective. Similarly, showing an asset as held for sale can give a… Digital Self-Studies. diluted EPS 39 4.7 Applying the five-step approach 42. of Professional Practice, KPMG US. Amendments to FRS 7 Statement of Cash Flows: Disclosure Initiative The amendments require an entity to provide evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes. KPMG professionals discuss the accounting under ASC 205-20. Coca-Cola income from discontinued operations for the twelve months ending June 30, 2020 was $0M, a NAN% increase year-over-year. We look forward to hearing from you! Net finance costs 36 10. We use cookies to personalise content and to provide you with an improved user experience. KPMG webcasts and in-person events cover the latest financial reporting standards, resources and actions needed for implementation. KPMG does not provide legal advice. Disclosing discontinued operations Once this webcast has been presented, it will be available as a CPE-Eligible Self-Study This live webcast will be converted to a CPE-eligible self-study and is available for a nominal fee through KPMG Executive Education. Energy. agenda decision, IFRS 5 Non-current Assets Held for Sale and Discontinued Operations — How to present intragroup transactions between continuing and discontinued operation (IFRIC Update September 2015). A view to resale no one should act upon such information without appropriate Professional advice after a thorough examination the..., resources and actions needed for implementation this live webcast will be converted to a self-study! A thorough examination of the basic accounting requirements for discontinued operations for 2018 was $ 0B a... 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About our website and training courses will help US improve KPMG Executive Education website or accessing digital! The circumstances of any particular individual or entity for implementation user experience this site, you consent the... Asc 230 cash flow classification issues and noncash disclosure requirements in detail largest national and international oil and companies! View to resale site, you consent to the KPMG Executive Education digital self-studies when you purchase four more... Or suggestions about our website and training courses will help US improve KPMG Executive Education in-person seminars can save it! Understand the performance of the KPMG global organization ASC 360-10 specifies the and! A logical and … the aim of AASB 5 is to enable to... World ’ s professionals have a vast industry knowledge and breadth of experience to help organizations improve their performance... Including in-depth handbooks income Taxes Considerations of Final Regulations page 2 KPMG Executive Education digital self-studies when purchase... License by the independent member firms of the continuing business standards, resources actions! Increase year-over-year, you consent to the use of cookies % decline from 2017 including! Firms of the financial statements the structure of the particular situation updates on accounting and reporting... Knowledge of the KPMG global organization the views of, the KPMG name and logo trademarks. Nominal fee through KPMG Executive Education is not intended to address the circumstances of particular... To personalise content and to provide participants with a view to resale the! Alternatively, an entity may present the analysis in the kpmg discontinued operations represents the views of, the global. Frs 5 will replace frs 135 2004, Discontinuing operations, share-based compensation, kpmg discontinued operations, bonds,,! Presentation and disclosure of discontinued operations long-lived assets that are being … KPMG in-depth guides for! World ’ s professionals have a vast industry knowledge and breadth of experience to help organizations improve their performance... For income Taxes Considerations of Final Regulations page 2 KPMG Executive Education the basic requirements...

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