Simplified balance sheet classification of debt | KPMG | GLOBAL

FASB proposal for simplified balance sheet classification of debt

Simplified balance sheet classification of debt

The FASB, as part of its simplification initiative, has 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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Read a January 2017 report prepared by KPMG LLP: Defining Issues: FASB Proposes Simplification to Balance Sheet Classification of Debt

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