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Classification of liabilities — Effective date



On 23 January 2020, the IASB issued Classification of Liabilities as Current or Non-current (Amendments to IAS 1) providing a more general approach to the classification of liabilities under IAS 1 Presentation of Financial Statements based on the contractual arrangements in place at the reporting date. The amendments currently have an effective date of 1 January 2022.

In April 2020, the IASB held a supplementary IASB meeting to consider COVID-19-related matters including the Board's timelines in view of the COVID-19 pandemic. The Board tentatively decided to delay by one year the effective date of Classification of Liabilities as Current or Non-current (Amendments to IAS 1) to annual reporting periods beginning on or after 1 January 2023.

This project is solely dedicated to proposing, redeliberating and potentially finalising an amendment to IAS 1 that would delay the effective date of the January 2020 amendments by one year.


Current status of the project

The IASB first discussed this issue in April 2020. An exposure draft of proposed amendments was published on 4 May 2020.


Project milestones

Date Development Comments
17 April 2020 Issue first discussed by the IASB
4 May 2020 ED/2020/3 Classification of Liabilities as Current or Non-current — Deferral of Effective Date (Proposed amendment to IAS 1) published comments requested by 3 June 2020


Correction list for hyphenation

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