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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

Reach out to our Section 3475 Specialist

Jon Kligman


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




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.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.