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Discontinued Operations

Longview has the ability to perform adjustments to the financial statements when there is a discontinued operation through the Discontinue an Operation application.

Discontinued operations - overview

When an entity is discontinued, the discontinued entity will be added to the ENTITIES_DiscOps hierarchy structure.

Users will be able to have both management and statutory views of the financial statements. The management view will retain all the details in the Balance Sheet, Income Statement and Cash Flow of all discontinued operations. The Statutory view will show the Discontinued Operations disclosure by reversing the Financial Statements details and displaying one or more separate line items for discontinuing operations on the financial statements.

The income statement details for the discontinued operation are reversed and recorded as a single line item in the income statement (NI_DiscOps).

The cash flow details for the discontinued operations are reversed and recorded as separate line items in each section of the Cash Flow:

  • Operating activities (CF_Op_DiscOps)
  • Financing activities (CF_Fin_DiscOps)
  • Investing activities (CF_Inv_DiscOps)

Manual adjustments or reclassifications to the discontinued Operation can be made using adjustment symbols in the discontinued operations adjustment app. For more information on this app, see Specific configuration – Discontinued Operations Adjustment.

Accessing discontinue an operation

  1. Select the Consolidate module.
  2. Select the Administration category.
  3. Expand Entities.
  4. Click Discontinue an Operation. The Discontinue an Operation dialog appears.

Discontinuing an operation

The Discontinue an Operation dialog displays and provides the following options:

  1. Select the year for which the entity will be discontinued.
  2. Select the entity to be discontinued.
  3. Click OK. The required calculations will run to discontinue the selected entity.

Note: Rerun the Discontinue An Operation app to discontinue an operation in an additional year (i.e. prior year for comparative statements).
Published:

Discontinued Operations

Longview has the ability to perform adjustments to the financial statements when there is a discontinued operation through the Discontinue an Operation application.

Discontinued operations - overview

When an entity is discontinued, the discontinued entity will be added to the ENTITIES_DiscOps hierarchy structure.

Users will be able to have both management and statutory views of the financial statements. The management view will retain all the details in the Balance Sheet, Income Statement and Cash Flow of all discontinued operations. The Statutory view will show the Discontinued Operations disclosure by reversing the Financial Statements details and displaying one or more separate line items for discontinuing operations on the financial statements.

The income statement details for the discontinued operation are reversed and recorded as a single line item in the income statement (NI_DiscOps).

The cash flow details for the discontinued operations are reversed and recorded as separate line items in each section of the Cash Flow:

  • Operating activities (CF_Op_DiscOps)
  • Financing activities (CF_Fin_DiscOps)
  • Investing activities (CF_Inv_DiscOps)

Manual adjustments or reclassifications to the discontinued Operation can be made using adjustment symbols in the discontinued operations adjustment app. For more information on this app, see Specific configuration – Discontinued Operations Adjustment.

Accessing discontinue an operation

  1. Select the Consolidate module.
  2. Select the Administration category.
  3. Expand Entities.
  4. Click Discontinue an Operation. The Discontinue an Operation dialog appears.

Discontinuing an operation

The Discontinue an Operation dialog displays and provides the following options:

  1. Select the year for which the entity will be discontinued.
  2. Select the entity to be discontinued.
  3. Click OK. The required calculations will run to discontinue the selected entity.

Note: Rerun the Discontinue An Operation app to discontinue an operation in an additional year (i.e. prior year for comparative statements).
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