Global Standards for the world economy

Wednesday 24 February 2021

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Classification of liabilities

Presentation of Financial Statements: Classification of liabilities

 Issues considered but transferred to the IASB

IAS 1 Presentation of Financial Statements–Current/non-current classification of liabilities

The Exposure Draft Annual Improvements to IFRSs 2010-2012 Cycle proposed to amend paragraph 73 of IAS 1 to clarify that a liability is classified as non-current if an entity expects, and has the discretion, to refinance or roll over an obligation for at least twelve months after the reporting period under an existing loan facility with the same lender, on the same or similar terms.

Project stages


Issued documents

The Board discussed the comments received on its proposals at its December 2015 meeting. The Board will discuss the timing of its redeliberations at its April 2016 meeting.