The divestiture or spin-off of a business unit can cause major problems for the parent company, or represent a golden opportunity to streamline and focus on its core capabilities. In the Divestitures and Spin-Offs manual, we discuss the problems with divestitures and how to resolve them by focusing on specific concerns in many functional areas, including accounting, human resources, legal, and treasury. This manual is intended to concentrate the attention of the reader on the key elements needed to make a divestiture or spin-off a success.