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Simplifying the balance sheet classification of debt

The objective of this project is to reduce cost and complexity when classifying debt on a balance sheet.


Meeting minutes

FASB discussions regarding this project are found in the following meeting minutes:

  • October 24, 2018 — The Board discussed stakeholder feedback on unused long-term financing arrangements.
  • August 22, 2018 — The Board continued redeliberations of proposed ASU Simplifying the Classification of Debt in a Classified Balance Sheet.
  • September 13, 2017 — The Board completed its redeliberations on proposed ASU Simplifying the Classification of Debt in a Classified Balance Sheet.
  • October 19, 2016 —  The Board discussed feedback received from stakeholders and made tentative decisions about the project’s direction as well as about presentation, disclosures, waiver fees, the probability assessment related to waivers of debt covenant violations, and transition.
  • July 29, 2015 — The Board made tentative decisions related to scope, subjective acceleration clauses, waivers of debt covenant violations, recurring disclosures, and transition. In addition, the Board directed the staff to prepare a proposed ASU for a vote by written ballot.
  • January 28, 2015 — The Board discussed alternatives for classifying debt as current or noncurrent within a classified balance sheet.
  • August 13, 2014 — The Board added this project to its agenda.


Current status

The FASB expects to issue a final ASU during the first quarter of 2019.


Project milestones

Date Development Comments
August 13, 2014 Added to the FASB's technical agenda.
January 10, 2017 Proposed ASU, Simplifying the Classification of Debt in a Classified Balance Sheet (Current Versus Noncurrent). Comments due May 5, 2017.

Correction list for hyphenation

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