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Deloitte comments on FASB's proposal on the balance sheet classification of debt

Published on: May 05, 2017

Deloitte & Touche LLP comments on the FASB's proposed ASU, Simplifying the Classification of Debt in a Classified Balance Sheet (Current Versus Noncurrent), which was issued in January 2017.

An excerpt from the comment letter is shown below:

We believe that the proposed ASU would further the Board’s efforts by establishing a debt classification principle that is centered on a debt arrangement’s terms and conditions as of the balance sheet date. Such a principle would introduce into U.S. GAAP a consistent and coherent set of requirements for classifying debt as current or noncurrent.

For more information, see the full text of the comment letter which is available below.

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