United States

FASB Proposes Simplification to Balance Sheet Classification of Debt

Jan 11, 2017
From the Financial Reporting Network

This edition of Defining Issues reports that, as part of its simplification initiative, the FASB proposed changes to how companies classify debt as current or noncurrent on the balance sheet. The proposal would replace the existing detailed guidance with a principles-based approach that considers a company’s facts and circumstances as of the balance sheet date. 

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