Hello,

I am wondering if you would be able to help tutor me on a case study that I am working on for an accounting class? I have already identified the most relevant sections in the codification for this case study and drafted the journal entry, but I would like help double checking my work there and making sure that I have the correct numbers and idea of how to prepare the required disclosures. The following supplies the tasks that I am to complete. If you are able to help there are a few pieces of additional information that the study provides.

Thank you for your consideration.

Brittany

Review the required disclosures for a discontinued operation in IFRS 5 and ASC 205-20-50 and ASC 360-10-45. Identify which paragraphs are the most relevant in detailing the necessary disclosures for discontinued operations.

- Provide and record the journal entries required for TCH's remeasurement.

- Draft the required disclosures and revisions to the comparative consolidated financial statements assuming DHI reports using US GAAP.

- Draft the required disclosures and revisions to the comparative consolidated financial statements assuming DHI reports using IFRS.

- Considering the above analyses in the previous requirements, explain if US GAAP or IFRS provides better information about discontinued operations for users of the financial statements.

(All $ amounts in millions)
	Consolidated DHI	TCH
Statement of financial position	2014	2013	2014	2013
Cash	$ 20	$ 30	$ (30)	$ 10
Inventory	360	380	80	50
PP&E	450	460	200	210
Liabilities	100	90	20	20
Equity	730	780	230	250
Income statement
Revenue	1,700	1,750	500	600
Expenses	(1,400)	(1,350)	(540)	(580)
Pretax income (loss)	300	400	(40)	20
Income tax expense (benefit)	(150)	(200)	20	(10)
Net income (loss)	$ 150	$ 200	$ (20)	$ 10
Cash flows
Operating activities	$ 150	$ 200	$ (20)	$ 10
Investing activities	(100)	(120)	-	(10)
Financing activities	(60)	(100)	(20)	(10)
Beginning cash	30	50	10	20
Ending cash	$ 20	$ 30	$ (30)	$ 10