FASB Flash Report – April 2014

April 2014

On April 10, 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. It changes the criteria for reporting discontinued operations, which includes a component of an entity or a group of components of an entity, a business, or nonprofit activity. The amendments are intended to simplify U.S. GAAP and are expected to result in fewer transactions being reported as discontinued operations.