Changes to classification of liabilities – not coming so soon to financial statements near you, part two

The IASB has issued Classification of Liabilities as Current or Non-current—Deferral of Effective Date, amendments to IAS 1 I recapped the underlying subject matter at the time of the exposure draft – basically it relates to classifying a liability as current under IAS 1.69 based on the right at the end of the reporting period…

Just when you didn’t think IFRS could get any better…it does!

The IASB recently issued Annual Improvements to IFRS Standards 2018-2020. There are only four items (proving once again that it was almost perfect already). Here they are. Financial instruments IFRS 9 regards an exchange of debt instruments with substantially different terms between an existing borrower and a lender as an extinguishment of the original financial liability…