Assets Held for Sale – Financial Reporting Advisory, LLC

GAAP Part 4.2 Assets Held for Sale Exception

Exception 02 - Assets Held for Sale ASC 805-20-30-22

Do you, the acquirer, have the intention of selling any of the acquiree's long-lived assets within a one year period of the acquisition date? *

Yes

Is the sale of these assets probable within the course of one year subsequent to the acquisition date? *

Yes

The Assets you intend to acquire must be reclassified as held for sale at Fair Value of the Asset, net of any Association Selling costs.
Mark all accounts that must be reclassified based on the prior questioning.

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