Classification of Debt with Covenants as Current or Non-current - International Accounting Standards Board

Date recorded:

At its meeting on June 20-22, 2022, the IASB met to discuss feedback on its Exposure Draft, which proposed amendments to IAS 1, Presentation of Financial Statements. The comment period for the Exposure Draft ended on March 21, 2022. The IASB also discussed how to proceed with the project. The Board discussed: (i) classification as current or non-current; (ii) separate presentation and disclosure; and (iii) transition and effective date deferral. The Board made a number of tentative conclusion. The IASB will discuss the effective date of the proposed amendments, as well as its compliance with applicable due process steps, at a future meeting.

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