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Section PS 3230 - Long-term debt

Effective date:

March 1, 1997

Published by the PSAB:

March 1997


This Section establishes standards on how to account for and report long-term debt in government financial statements, including debt issued on behalf of a government business enterprise.

A government issues debt for its government business enterprises in one of two ways:

  1. The proceeds of general government borrowing are subsequently loaned to a government business enterprise.
  2. Debt is issued by the government specifically on behalf of the government business enterprise and the government expects to realize the receivable from the government business enterprise and settle the external debt simultaneously.

Financial statements should disclose information to highlight the composition of a government's long-term debt.

History of Section PS 3230




March 1997

New Section

This Section establishes standards on how to account for and report long-term debt in government financial statements.

April 2000

Revised recommendations

This Section has been revised to incorporate Recommendations on how a government should report debt it has issued on behalf of its government business enterprises.

March 2012


This Section is amended to clarify the interaction between requirements that apply to derecognized assets in this Section and PS 3450 Financial instruments.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

Public Sector Accounting Discussion Group meetings

  • January 7, 2014 - Sections PS 2510 and PS 3230: Presenting Debt Obligations of a Government Business Enterprise

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.