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

Date recorded:

At its meeting on September 20-22, 2022, the IASB met to consider a sweep issue identified during the balloting of the amendments to IAS 1 that the IASB decided to make as part of this project. Specifically, the IASB discussed the requirements for early application of the amendments made to IAS 1 in 2020 in Classification of Liabilities as Current or Non-current (the 2020 amendments). The IASB tentatively decided to: (i) allow early application of the 2020 amendments; but (ii) after the issue of the 2022 amendments, require an entity that applies the 2020 amendments early also to apply the 2022 amendments. The IASB expects to issue the 2022 amendments in the fourth quarter of 2022.

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