FASB debt classification reproposal sparks concerns

by Ken Tysiac | Nov 05, 2019   ()

The AICPA Technical Issues Committee (TIC) submitted a letter to FASB on Monday expressing concerns over the board’s reproposal seeking to simplify the classification of debt in a classified balance sheet.

FASB sought comment on the potential changes in Proposed Accounting Standards Update, Debt (Topic 470): Simplifying the Classification of Debt in a Classified Balance Sheet (Current versus Noncurrent).

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Source: Journal of Accountancy

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