Section 3475 – Disposal of Long-lived Assets and Discontinued Operations

October 01, 2013

Section 3475 applies to:

  • Disposal of non-monetary long-lived assets, including property, plant and equipment, intangible assets with finite useful lives and long-term prepaid assets.

Section 3475 does not apply to:

  • Investments, including equity method accounted investments (see Section 3051).
  • Financial assets, financial liabilities and contracts to buy or sell non-financial items accounted Instruments.
  • Oil and gas assets accounted for using the full cost method (see AcG-16).
  • Unproved oil and gas properties accounted for using the successful efforts method.
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