IASB has published for public comment the Exposure Draft Classification of Liabilities (Proposed amendments to IAS 1Presentasjon av finansregnskapPresentation of Financial Statements), which clarifies how entities classify debt, particularly when it is coming up for renewal.
The proposed amendments are designed to improve presentation in financial statements by clarifying the criteria for the classification of a liability as either current or non-current. The proposed amendments do this by:
The proposals are open for public comment for 120 days. Comments on the proposed amendments should be sent to the IASB by 10 June 2015. The Exposure Draft can be accessed from the Open for comment section of the IFRS website.