FASB Discusses Balance Sheet Classification of Debt

At its March 20, 2019, meeting, the FASB discussed its project on simplifying the balance sheet classification of debt.

The Board continued redeliberating its proposed ASU Simplifying the Classification of Debt in a Classified Balance Sheet (Current Versus Noncurrent) and made tentative decisions about unused long-term financing arrangements and disclosures. In addition, the Board directed its staff to draft a revised proposed ASU for a vote by written ballot.

For more information, see the meeting minutes on the FASB’s Web site.