Accounting for the Impairment or Disposal of Long-Lived Assets

Status

Issued:
August 2001

Effective Date:
For financial statements issued for fiscal years beginning after December 15, 2001 and interim periods within those fiscal years

Affects:
Amends ARB 51, paragraph 2
Deletes ARB 51, paragraph 12
Amends APB 18, paragraph 19(h)
Amends APB 28, paragraphs 21, 30(e), and 31
Amends APB 29, paragraphs 21 and 23
Effectively deletes APB 29, footnote 7
Amends APB 30, paragraphs 3, 11, 23, and 25
Deletes APB 30, paragraphs 8, 9, and 13 through 18 and footnotes 2 and 5 through 7
Amends AIN-APB 30, Interpretation No. 1
Amends FAS 15, paragraphs 28 and 33
Replaces FAS 19, paragraph 44(a)
Replaces FAS 19, paragraph after paragraph 62 added by FAS 121
Amends FAS 34, paragraph 19
Amends FAS 43, paragraph 2
Amends FAS 51, paragraph 14
Amends FAS 60, paragraph 48
Amends FAS 61, paragraph 6
Amends FAS 66, paragraph 65
Replaces FAS 66, footnote 5
Amends FAS 67, paragraphs 3, 24, and 28
Deletes FAS 67, paragraph 16
Replaces FAS 67, paragraph 25
Amends FAS 71, paragraphs 9 and 10 and by adding paragraph after paragraph 10
Amends FAS 88, paragraphs 6(a) and 57 (Example 3A)
Deletes FAS 88, paragraphs 8 and 16
Amends FAS 101, paragraph 6
Amends FAS 106, paragraph 96(a)
Deletes FAS 106, paragraph 103
Amends FAS 115, paragraph 8(c)
Amends FAS 117, paragraph 164
Supersedes FAS 121
Amends FAS 123, paragraph 9
Deletes FAS 141, footnote 18
Deletes FAS 142, paragraph 7 and footnote 22
Amends FAS 142, paragraphs 15, 17, 28(f), 29, and Appendix A (Examples 1 through 3, 5, and 9)
Amends FAS 143, paragraphs 2 and 12
Deletes FAS 143, footnote 11
Amends FIN 18, paragraphs 19, 35, and 71
Replaces FIN 18, footnotes 1 and 20 Deletes FIN 27, paragraph 3
Amends FIN 39, paragraph 7

Affected by:
Paragraph 5 amended by FAS 141(R), paragraph E45; FAS 145, paragraphs 7(d) and 9(n); and FAS 147, paragraph B4
Paragraphs 9 and 28 amended by FAS 154, paragraphs C15(a) and C15(b), respectively
Paragraphs 22 and 24 deleted by FAS 157, paragraphs E24(a) and E24(c), respectively
Paragraph 23 amended by FAS 157, paragraph E24(b)
Paragraphs 27 and 29 and footnote 17 amended by FAS 153, paragraph 5
Paragraph 33 and footnote 20 amended by FAS 165, paragraph B11
Paragraph 43 amended by FAS 154, paragraph C19(g)
Paragraph 45 amended by FAS 145, paragraph 9(n) Paragraph A3 amended by FAS 151, paragraph 3
Paragraphs A6 through A8, A11, A13, and A14 amended by FAS 157, paragraphs E24(d) through E24(g), E24(i), and E24(j), respectively
Paragraphs A12 and E1 through E3 deleted by FAS 157, paragraphs E24(h) and E24(k) respectively
Paragraph D1 amended by FAS 141(R), paragraph E28; FAS145, paragraphs 7(d) and 9(n); and FAS 147, paragraph B4
Footnotes 7 and 24 amended by FAS 154, paragraphs C15(a) and C15(c), respectively
Footnotes 12 through 14, 28, and 29 deleted by FAS 157, paragraphs E24(a) through E24(c) E24(g), and E24(h), respectively

Other Interpretive Release:
FASB Staff Position FAS 144-1

AICPA Accounting Standards Executive Committee (AcSEC)

Related Pronouncements:
SOP 85-3
SOP 90-7

Issues Discussed by FASB Emerging Issues Task Force (EITF)

Affects:
Nullifies EITF Issues No. 85-36, 87-11, 90-6, 90-16, 95-18, and Topic No. D-45
Partially nullifies EITF Issue No. 93-4
Resolves EITF Issues No. 84-28 and 95-21
Partially resolves EITF Issue No. 01-2

Interpreted by:
Paragraphs 8 through 16 interpreted by EITF Issue No. 95-23
Paragraphs 17 through 21 interpreted by EITF Issues No. 95-23 and 04-3
Paragraphs 29, 41, and 42 interpreted by EITF Issue No. 02-11
Paragraph 34 interpreted by EITF Issue No. 01-5
Paragraph 43 interpreted by EITF Issues No. 87-24, 93-17, and 02-11
Paragraph 44 interpreted by EITF Issue No. 02-11
Paragraph 51 interpreted by EITF Topic No. D-104

Related Issues:
EITF Issues No. 86-22, 87-4, 87-18, 87-24, 89-13, 93-11, 97-4, 99-14, 00-26, 01-2 and 03-13


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^*Note: Amendments as a result of the issuance of FAS 141(R) are effective for business combinations with an acquisition date on or after the beginning of the first annual reporting period beginning on or after 12/15/08.


Abbreviations for Accounting Pronouncements
FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides