Employee Termination, Contract Termination, and Other Exit and Disposal Activities

Study Level:  Basic
Delivery Method:  Online self-study
Provider of Record: WebCE
Field of Study: Accounting
Number of CE Hours:  1
Prerequisites:  N/A

Course Description

This course provides an overview of the authoritative guidance prescribed by Accounting Standards Codification (ASC) Topic No. 420, Exit or Disposal Cost Obligations.  The discussion related to ASC Topic No. 420 focuses primarily on costs associated with exit or disposal activities including one-time involuntary termination benefits as well as certain contract termination costs and other associated costs.  In addition, the respective presentation and disclosure requirements will be addressed.   

Learning Objectives
By the conclusion of this chapter, students will be able to:

  • identify transactions within the scope of ASC Topic No. 420
  • identify recognition and measurement requirements relating to one-time termination benefits
  • recognize accounting requirements relating to contract termination and other associated costs
  • identify presentation and disclosure requirements relating to exit or disposal activities

Published: Jan. 2018

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