Classification of Liabilities as Current or Non-current – Interaction with convertible debt

IAS 1 Presentation of Financial Statements sets out the circumstances in which an entity is required to classify a liability as current.  One of those circumstances, set out in sub-paragraph 69(d), is when the entity does not have an unconditional...

Primary Financial Statements project – Redeliberations begin by the IASB on the exposure draft: General Presentation and Disclosures that propose substantial changes to reporting financial performance

At the March 2021 International Accounting Standards Board’s (“IASB”) meeting, the Board members began the anticipated task of redeliberating the proposals set out in the exposure draft: General Presentation and Disclosures (“ED”), which was published in December 2019 (and was...

Liability classification amendments to IAS 1, issued by the IASB, may in practice result in presentational changes of loans and borrowings

The International Accounting Standards Board (“IASB”) has issued narrow-scope Amendments to IAS 1 Presentation of Financial Statements (“IAS 1”) - Classification of Liabilities as Current or Non-current. The amendments clarify the requirements for classifying liabilities, such as debts, loans and...