IASB ED/2020/3

  • For-profit

Classification of Liabilities as Current or Non-current — Deferral of Effective Date

The International Accounting Standards Board (IASB) has recently issued ED/2020/3 Classification of Liabilities as Current or Non-current — Deferral of Effective Date (the ED)which amends IAS 1 Presentation of Financial Statements (IAS 1).

The IAS 1 amendments were issued in January 2020, effective for annual reporting periods beginning on or after 1 January 2022. In response to COVID-19, the IASB is proposing to provide entities with more time to implement any classification changes resulting from the amendments by deferring the effective date by one year to annual reporting periods beginning on or after 1 January 2023.

The IASB is not proposing any changes to the original amendments other than the deferral of the effective date. 


Commenting on the Proposal

We invite your comments on the proposal.

This ED has a short 30-day comment period. Please send your comments directly to the IASB (with a copy to the NZASB) by 3 June 2020.

You can make your comments electronically to the IASB website by clicking on the following link https://www.ifrs.org/projects/open-for-comment/. First-time users must register with the IASB to submit electronically.