Pwc's Cfodirect Podcast

Text us your thoughts on this episodeWe continue our miniseries exploring accounting for property, plant, and equipment. In this second episode we discuss the treatment of long-lived assets that are held for sale, from impairment to accounting for the sale of non-financial assets. Host Heather Horn is once again joined by Beth Paul, Deputy Chief Accountant in PwC’s National Office, to walk through specific considerations and complexities on this topic. In this episode, you’ll hear:00:22 – An overview of the impairment model for long-lived assets that are held for sale02:05 – How to identify disposal groups03:50 – A discussion of the order of impairment testing under the held for sale model04:46 – What to consider when measuring impairment at the lower of carrying value or fair value less cost to sell11:25 – A walkthrough of the accounting implications of AOCI and noncontrolling interest (NCI) in the held for sale model16:05 – An explanation of differences between the sale of a business and the sale of an asse