[startupcfo]

How are discontinued operations that occur at midyear initially reported?

Disclosed only in the notes to the year-end financial statements.
Included in net income and disclosed in the notes to the year-end financial statements.

Included in net income and disclosed in the notes to interim financial statements.

Disclosed only in the notes to interim financial statements.

I can see why discontinued operations have an impact on net income, so the 2nd and 3rd choice are the only viable ones. What I don’t understand is the requirement for reporting in interim financial statements, because it seems to count on the fact that interim financials are required. Are interim financials always required when a business segment is discontinued?

AUD - 93
BEC - 87
FAR - 77
REG - 77

------------
Corporate finance leader

BEC - 87 | 02/28
REG - 70 | 06/10, REMATCH | 08/30
AUD - XX | 09/10
FAR - XX | 12/10

[Anonymous]

I think with FAR questions, they automatically assume that the company is a public company unless stated otherwise. Public companies are required to issue quarterly financials, the 10Q.

[Author]

Replies