IASB has published an exposure draft for proposed amendments to IAS 1
The IASB has recently published an exposure draft for proposed amendments to IAS 1 Presentation of Financial Statements (‘IAS 1’) for non-current liabilities with debt covenants. The deadline to submit comments is 21 March 2022.
The amendment proposes that financial statement preparers specify that covenants that a company must comply with after the reporting date, does not affect the classification of a liability as current or non-current at that date. A company is required to present non-current liabilities with covenants separately in its statement of financial position and disclose further detail in the notes relating to these covenants with which it must comply within 12 months after the reporting date. This amendment is expected to improve disclosure about non-current liabilities with covenants.
Please click here for access to this amendment.
30/11/2021
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