Section 3475 - Disposal of long-lived assets and discontinued operations
Effective date: |
January 1, 2011 except for subsequent amendments |
Published by the AcSB: |
December 2009 |
Overview
This Section establishes standards for the recognition, measurement, presentation and disclosure of the disposal of long-lived assets. It also establishes standards for the presentation and disclosure of discontinued operations, whether or not they include long-lived assets. This Section applies to the disposal of non-monetary long-lived assets, including property, plant and equipment, intangible assets with finite useful lives and long-term prepaid assets. The section sets forth when long-lived assets (or disposal groups) are classified as "held for sale" and their accounting treatment.
History of Section 3475
Date |
Development |
Comments |
December 2009 |
Part II of the CPA Canada Handbook issued |
Effective for fiscal years beginning on or after January 1, 2011. |
May 2013 |
This Section has been amended to incorporate a revised definition of a discontinued operation. Effective for fiscal years beginning on or after January 1, 2014. |
Note: The above summary does not include details of consequential amendments made as the result of other projects.