Classification of Liabilities – International Accounting Standards Board
At its meeting on September 24, 2019, the IASB met to finalize the amendments to paragraphs 69–76 of IAS 1, Presentation of Financial Statements. The amended paragraphs relate to the classification of liabilities as current or non-current. The Board decided not to re-expose the amendments. The Board decided that the amendments should apply for annual reporting periods beginning on or after January 1, 2022. No Board member indicated an intention to dissent from issuing the amendments. All of the Board members confirmed they were satisfied that the Board has complied with applicable due process steps and has undertaken sufficient consultation and analysis to begin the balloting process for the amendments.
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