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U.S. GAAP: Long Term Liabilities |
IFRS: Long Term Liabilities |
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Convertible debt classified as liability |
Convertible debt assigned to both debt and equity based on relative fair values
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| Entities should reassess at the end of each reporting period whether an embedded derivative should be separated |
Entities should reassess at the end of each reporting period whether an embedded derivative should be separated only if there is a change in the terms that significantly modifies the cash flows
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Noncurrent presentation of defaulted debt if waiver granted before statement issuance date |
Noncurrent presentation of defaulted debt if waiver granted before balance sheet date only
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Equity-like instruments giving holder right to demand cash settlement, or with defined cash settlement terms, must be classed as liabilities
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Similar to U.S. GAAP |
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Joint project with IASB to address instruments with attributes of both liabilities and equity is ongoing.
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Joint project with FASB to address instruments with attributes of both liabilities and equity is ongoing. |
