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Author: |
Kelen Camehl, CPA, MBA |
Course Length: |
Pages: 15 ||| Word Count: 9024 ||| Review Questions: 4 ||| Final Exam Questions: 5 |
CPE Credits: |
1.0 |
IRS Credits: |
0 |
Price: |
$12.95 |
Passing Score: |
70% |
Course Type: |
Text |
Technical Designation: |
Technical |
Field Of Study: |
Accounting |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This course explains the six criteria for classifying long lived assets as held for sale under ASC 360 10.
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Frequently Asked Questions: |
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Description: |
This course provides a general overview of the six held for sale classification criteria outlined within ASC 360-10. This includes a discussion of the general impacts from held for sale classification as well as subsequent measurement requirements once a long-lived asset has been classified as held for sale. This course also addresses how changes to a planned sale impact the measurement and presentation of held for sale assets. |
Usage Rank: |
15000 |
Release: |
2022 |
Version: |
1.0 |
Prerequisites: |
None. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
External: What Is a Sale?
Internal: Fixed Asset CPE Courses page
Internal: GAAP CPE Courses for CPAs
External: FASB ASU on Long‑Lived Assets Held for Sale - criteria & guidance
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
06-Mar-2026 |
NASBA Course Declaration: |
Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Keywords: |
Detailed Overview of the Held for Sale Classification Criteria - CPE course for CPAs |
Learning Objectives: |
Course Learning Objectives
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Course Contents: |
Chapter 1 - Detailed Overview of the Held for Sale Classification Criteria Course Learning Objectives Course Overview Introduction Held for Sale Criteria Criterion #1 – Commitment to a Sale Criterion #2 – Available for Immediate Sales in its Present Condition Criterion #3 – Active Program to Locate Buyer Criterion #4 – Sale of Asset is Probable & Completed Within One Year Review Questions Criterion #5 – Actively Marketed at a Price Reasonable in Relation to Current Fair Value Criterion #6 – Significant Changes to Plan of Sale is Unlikely Held for Sale Classification After the Balance Sheet Date Impacts from Held for Sale Classification Measuring Held for Sale Assets Depreciation Impacts Changes to the Plan of Sale Review Questions Glossary of Key Terms |
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