FASB ASC Topic 470: Debt

The proper classification of debt is generally critical for the fair presentation of financial statements, as the nature and extent of current obligations would likely influence the economic decisions of financial statement users.  In fact, debt is a critical element in many important financial statement ratios, such as those related to liquidity and leverage.  Unfortunately, Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) guidance related to the classification of debt can be complex in some situations, based on application of narrow authoritative rules and fact patterns.

This course covers the proper treatment and resolution of the most common debt classification and disclosure issues faced by entities financed by long-term debt arrangements.

If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: FASB ASC Topic 470: Debt – An Auditor’s Perspective on Common Balance Sheet Classification Issues. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.