Tentative Board Decisions
Tentative Board decisions are provided for those interested
in following the Board’s deliberations. All of the reported decisions
are tentative and may be changed at future Board meetings.
Wednesday, March 20, 2019 FASB Board Meeting
Simplifying the balance sheet classification of debt. The Board continued redeliberations of the proposed Accounting Standards Update, Debt (Topic 470): Simplifying the Classification of Debt in a Classified Balance Sheet (Current versus Noncurrent). The Board made the following decisions.
Classification Principle—Unused Long-Term Financing Arrangements
The Board affirmed its previous decision that an unused long-term
financing arrangement in place at the balance sheet date should be
disregarded in determining the classification of debt.
Disclosures
The Board decided not to amend the disclosure requirements on the
combined aggregate amount of maturities in Topic 470 as part of this
project.
Next Steps
The Board directed the staff to draft a revised proposed Accounting
Standards Update for vote by written ballot, with a comment period of 45
days.