Refinancing of short-term debt
Prior to the issuance of Financial Accounting Standards Board (FASB) Statement No. 6, short-term obligations that management intended to refinance on a long-term basis were generally required to be classified as current liabilities. FASB No. 6 contends that management intent must be demonstrated by...
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| Veröffentlicht in: | Journal of accountancy 1980-02, Vol.149 (2), p.44 |
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| creator | Jarnagin, Bill D Booker, John A |
| description | Prior to the issuance of Financial Accounting Standards Board (FASB) Statement No. 6, short-term obligations that management intended to refinance on a long-term basis were generally required to be classified as current liabilities. FASB No. 6 contends that management intent must be demonstrated by either a post-balance-sheet-date issuance of long-term obligations or equity securities or through the presence of a financing agreement.If the amount of the long-term obligations or equity securities issued is greater than or equal to the amount of the short-term obligations refinanced, all of the short-term obligation should be reclassified. However, if the amount of the security issuance is less than the short-term obligation, the reclassification should be limited to the security issuance, with the excess classified as a current liability. |
| format | Magazinearticle |
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| fulltext | fulltext |
| identifier | ISSN: 0021-8448 |
| ispartof | Journal of accountancy, 1980-02, Vol.149 (2), p.44 |
| issn | 0021-8448 1945-0729 |
| language | eng |
| recordid | cdi_proquest_reports_206744145 |
| source | Business Source Complete |
| subjects | Agreements Balance sheets Current liabilities Cybercrime Equity FASB statements Financial accounting standards Financial statements Information systems Liability Long term debt Privacy Recapitalization Refinancing Security management Short term debt |
| title | Refinancing of short-term debt |
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