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In accounting for short-term debt expected to be refinanced to long-term debt:
(a) GAAP uses the authorization date to determine classification of short-term debt to be refinanced.
(b) IFRS uses the authorization date to determine classification of short-term debt to be refinanced.
(c) IFRS uses the financial statement date to determine classification of short-term debt to be refinanced.
(d) GAAP uses the date of issue, but only for secured debt, to determine classification of short-term debt to be refinanced.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91775270

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