Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-current (Amendments to AASB 101)

Attempting to promote consistency in financial reporting, AASB 2020-1 Amendments to Australian Accounting Standards – Classification of Liabilities as Current or Non-current aims to help companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one year) or non-current.

To view more detail from the AASB, click here

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