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FASB issues final ASU clarifying SEC’s position on presentation of debt issuance costs

  • FASB document Image

Aug 18, 2015

The FASB has issued Accounting Standards Update (ASU) No. 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated With Line-of-Credit Arrangements — Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting.”

ASU 2015-15 is being issued to clarify the SEC staff’s position on presenting and measuring debt issuance costs incurred in connection with line-of-credit arrangements given the lack of guidance on this topic in ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. The SEC staff has announced that it would “not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement.”

For more in­for­ma­tion, see the ASU on the FASB’s Web site as well as De­loitte’s Heads Up newsletter on ASU 2015-03.

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