Clearly describing the link between the settlement of the liability and the outflow of resources from the entity. The proposed amendments are contained in the exposure draft Classification of ...

The International Accounting Standards Board has published a set of proposals for clarifying how entities classify debt, especially when it comes up for renewal. The proposed amendments in the IASB’s ...

Classification of a liability as either prepetition or post-petition on the balance sheet has a significant influence on the amount the company will have to pay.

Chapter 9: Transactions in Financial Assets and Liabilities. Describes the characteristics of transactions in financial assets and liabilities such as valuation, time of recording, and arrears, and ...

A balance sheet shows a company's assets, liabilities, and shareholder equity at that point in time. Learn how they work, how to read one, and why they're important.