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FASB discusses balance sheet classification of debt

  • FASB meeting Image

Sep 15, 2017

At its September 13, 2017, meeting, the FASB discussed its project on simplifying the balance sheet classification of debt.

The Board made tentative decisions on the following issues:

  • Classification principle.
  • Scope.
  • Waivers of debt covenant violations.
  • Separate presentation in a classified balance sheet.
  • Refinancing after the balance sheet date.
  • Disclosures.
  • Implementation guidance and illustrative example.
  • Transition and transition disclosures.
  • Effective date.
  • Cost benefit.

In addition, the Board directed its staff to draft an ASU for a vote by written ballot.

For more in­for­ma­tion, see Deloitte's related journal entry as well as the meeting minutes on the FASB’s Web site.

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