This course discusses ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. It also provides an overview of the GAAP rules that existed prior to the implementation of ASU 2014-08. Upon completion of this course, the user should be able to: Recognize at least one reason why companies are motivated to shift losses from continuing operations to discontinued operations; Identify at least one reason why the previous definition of discontinued operations is criticized; Recognize some of the criteria that must be met for a disposal to qualify as discontinued operations under ASU 2014-08; Identify how discontinued operations should be presented on the income statement and balance sheet under the ASU 2014-08 rules.