Intermediate

Discontinued Operations (ASC 205-20) Criteria

Assesses if a business divestiture meets the threshold for 'Discontinued Ops' reporting.

Determine if the sale of the {division_name} qualifies as a 'Discontinued Operation' under ASC 205-20. Does it represent a 'Strategic Shift' that has a major effect on operations and financial results? Provide the quantitative and qualitative justification for your conclusion.

Related Prompts

Financial Accounting
Beginner

Month-End Close Checklist Generator

Generates a comprehensive month-end close checklist tailored to your company type and size.

ChatGPT-4oClaude Sonnet 4.5Gemini 2.5 Pro
1
4
673
Financial Accounting
Intermediate

ASC 606 Five-Step Compliance Checker

Analyzes a described revenue arrangement against each of the 5 steps of ASC 606. Flags potential issues and recommends documentation.

ChatGPT-4oClaude Sonnet 4.5
0
0
921
⭐ Featured
Financial Accounting
Advanced

Lease vs service assessment with key term extraction

Extracts key contract terms and evaluates whether an arrangement contains a lease under ASC 842/IFRS 16. Produces a concise conclusion and data needed for accounting setup.

GPT-5.2 Thinking; GPT-4.1; o3-mini
0
0
216