Debt
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This Roadmap provides an overview of the FASB’s
authoritative guidance on the issuer’s accounting for debt arrangements as well as
Deloitte’s insights into and interpretations of how to apply that guidance in
practice.
Determining the appropriate accounting for debt
arrangements can be time-consuming and complex. Terms that are significant to the
accounting analysis may be buried deep within a contract’s fine print. To properly
apply the numerous rules in U.S. GAAP, an issuer needs to closely analyze an
instrument’s terms and conditions and the related facts and circumstances. The
outcome of the analysis could significantly affect the classification, measurement,
and earnings impact of the debt arrangement and associated financial statement
ratios.
The guidance in this Roadmap is based on U.S. GAAP
before the adoption of ASU 2020-06. For more information about ASU 2020-06,
including its transition provisions, see Deloitte’s August 5, 2020, Heads Up.
Be sure to check out other titles in Deloitte’s
Roadmap series, our comprehensive, easy-to-understand
collection of accounting guides on selected topics of broad interest to the
financial reporting community.