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Classification of liabilities as current or non-current

Date recorded:

Completion of due process and permission to begin balloting process (Agenda Paper 29)


The Exposure Draft Classification of Liabilities published in February 2015 (ED) proposed amendments to the requirements in IAS 1. Those requirements relate to the classification of liabilities as current or non-current.

This paper summarised the due process steps and considered the effects of the amendments. The staff conclude that the amendments do not need to be re-exposed and propose an effective date of 1 January 2022.

The staff asked the Board whether they are satisfied that all due process steps have been taken and whether the staff can begin the balloting process. The staff will also asked whether any of the Board members plan to dissent from issuing the amendments.

Board discussion

There was no significant discussion on this topic and the Board gave the staff permission to ballot with a unanimous vote. None of the Board members plan to dissent from issuing the amendments.

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.