Polish translation: porzucenie/opuszczenie/zrezygowanie z dalszej kontynuacji
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21:40 Jan 15, 2008
English to Polish translations [PRO] Bus/Financial - Accounting
English term or phrase:abandonment
Have there been, or are there contemplated, any significant disposals, abandonments, or closings of plants or major departments?
A company must continue to classify long-lived assets it plans to dispose of by some method other than by sale as held and used until it actually gets rid of them. Other disposal methods include abandonment, exchange for a similar productive asset or distribution to owners in a spin-off.
A company should report long-lived assets to be abandoned or distributed to owners that consist of a group of assets (and liabilities) that are a “component of an entity” in the income statement as discontinued operations. If the assets are not a component, CPAs should report their disposal as part of the company’s income from continuing operations.