The fair presentation and disclosure of debt can be difficult to evaluate, due to the uncertainties and complexities of accounting. This course will provide insights into the most common issues faced in the accounting and financial reporting of debt, including the impact of recent accounting standards updates.
Course ID: DEBT
Debt: Accounting and Financial Reporting Risks
Learning Objectives
- Describe the complexities behind the accounting and fair presentation of debt
- Explain common issues encountered when testing an entity’s compliance with debt covenants and other contractual requirements
- Discuss the proper classification of debt between current and long-term
- Describe recent changes in accounting standards related to debt
Major Topics
- Discussion of debt subject to classification
- Guidance on callable obligations
- Accounting for lock-box or revolving credit arrangements
- Refinancing of short-term obligations
- Overview of debt with conversion options and other special debt considerations
- Treatment of debt modifications and exchanges, including debt extinguishments or troubled-debt restructurings
Advanced Preparations
None
Who Should Attend
Industry and public accountants
Fields of Study
AccountingPrerequisites
None