{"id":96514,"date":"2020-12-28T16:22:04","date_gmt":"2020-12-28T10:52:04","guid":{"rendered":"https:\/\/www.vskills.in\/certification\/tutorial\/?page_id=96514"},"modified":"2024-04-12T14:25:26","modified_gmt":"2024-04-12T08:55:26","slug":"accounting-for-discontinuing-operations-under-as-24","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/accounting-for-discontinuing-operations-under-as-24\/","title":{"rendered":"Accounting for Discontinuing Operations under AS-24"},"content":{"rendered":"\n<p>AS-24 is mandatory where:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Enterprises whose equity or debt securities are listed on a recognised stock exchange in India, and enterprises that are in the process of issuing equity or debt securities that will be listed on a recognised stock exchange in India as evidenced by the board of directors&#8217; resolution in this regard.<\/li><li>All other commercial, industrial and business reporting enterprises, whose turnover for the accounting period exceeds ` 50 crores.<\/li><\/ul>\n\n\n\n<p>In respect of all other enterprises, the Accounting Standard would be mandatory in nature in respect of accounting periods commencing on or after 1-4-2005. Earlier application of the accounting standard would be encouraged.<\/p>\n\n\n\n<p>This standard is applicable to all discontinuing operations, representing separate major line of business or geographical area of operations of an enterprise.<\/p>\n\n\n\n<p><strong>Objective<\/strong><\/p>\n\n\n\n<p>The objective of this Statement is to establish principles for reporting information about discontinuing operations, thereby enhancing the ability of users of financial statements to make projections of an enterprise&#8217;s cash flows, earnings-generating capacity, and financial position by segregating information about discontinuing operations from information about continuing operations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AS-24 is mandatory where: Enterprises whose equity or debt securities are listed on a recognised stock exchange in India, and enterprises that are in the process of issuing equity or debt securities that will be listed on a recognised stock exchange in India as evidenced by the board of directors&#8217; resolution in this regard. All&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-96514","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Accounting for Discontinuing Operations under AS-24 - Tutorial<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/accounting-for-discontinuing-operations-under-as-24\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Accounting for Discontinuing Operations under AS-24 - Tutorial\" \/>\n<meta property=\"og:description\" content=\"AS-24 is mandatory where: Enterprises whose equity or debt securities are listed on a recognised stock exchange in India, and enterprises that are in the process of issuing equity or debt securities that will be listed on a recognised stock exchange in India as evidenced by the board of directors&#8217; resolution in this regard. 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