{"id":1061,"date":"2020-10-09T04:42:23","date_gmt":"2020-10-09T04:42:23","guid":{"rendered":"http:\/\/snpaul.com\/wp57\/?p=1061"},"modified":"2020-10-09T04:42:23","modified_gmt":"2020-10-09T04:42:23","slug":"amendments-to-classification-of-liabilities-as-current-or-non-current","status":"publish","type":"post","link":"https:\/\/snpaul.com\/?p=1061","title":{"rendered":"Amendments to classification of liabilities as current or non-current"},"content":{"rendered":"<div class=\"richText component section default-style col-xs-12\">\n<div class=\"component-content\">\n<div class=\"richText-content\">\n<h4>The IASB has issued amendments to IAS 1\u00a0<em>Presentation of Financial Statements<\/em>\u00a0to clarify requirements for classifying liabilities as current or non-current.<\/h4>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"richText component section default-style col-xs-12\">\n<div class=\"component-content\">\n<div class=\"richText-content\">\n<p>On 23 January 2020, the International Accounting Standards Board (IASB or the Board) issued amendments to IAS 1\u00a0<em>Presentation of Financial Statements<\/em>\u00a0(the amendments) to clarify the requirements for classifying liabilities as current or non-current. More specifically:<\/p>\n<ul>\n<li>The amendments specify that the conditions which exist at the end of the reporting period are those which will be used to determine if a right to defer settlement of a liability exists.<\/li>\n<li>Management expectations about events after the balance sheet date, for example on whether a covenant will be breached, or whether early settlement will take place, are not relevant.<\/li>\n<li>The amendments clarify the situations that are considered settlement of a liability.<\/li>\n<\/ul>\n<p>The new guidance will be effective for annual periods starting on or after 1 January 2023.<\/p>\n<\/div>\n<\/div>\n<\/div>\n ","protected":false},"excerpt":{"rendered":"<p>The IASB has issued amendments to IAS 1\u00a0Presentation of Financial Statements\u00a0to clarify requirements for classifying liabilities as current or non-current. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[54,55],"tags":[],"_links":{"self":[{"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/posts\/1061"}],"collection":[{"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/snpaul.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1061"}],"version-history":[{"count":1,"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/posts\/1061\/revisions"}],"predecessor-version":[{"id":1062,"href":"https:\/\/snpaul.com\/index.php?rest_route=\/wp\/v2\/posts\/1061\/revisions\/1062"}],"wp:attachment":[{"href":"https:\/\/snpaul.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/snpaul.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/snpaul.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}