FASB ASC Topic 470 — current debt classification

Version bound authority record for current/noncurrent debt classification, refinancing, covenant violations, callable obligations, and maturity disclosures.

Updated Aug 8, 2026 Review due Sep 30, 2026

Scope of this reference

Inspect the standard and the scope used in the teaching material. The verification date describes the stored review.

Authority

Financial Accounting Standards Board

Standard

ASC Topic 470

Version

Codification content as verified 2026-08-08

Where it applies

United States GAAP

Entities covered

Entities applying US GAAP; complete contract, date, waiver, refinancing, and issuance facts required

Last source check recorded

Aug 8, 2026

Status recorded at review

current

Effective from

Not specified in this record

Check the applicable effective dates and later amendments in the source before applying this reference.

Instructional scope

This record supports a dated classification memorandum for contractual maturities, current portions, qualifying post-balance-sheet refinancing, covenant violations, waivers, future compliance, and subjective acceleration.

Standards clock

The 2017/2019 simplification proposals were not final. A 2026 project remains tentative. Current Topic 470 therefore governs this version-bound record.

Limitations

It does not interpret legal terms, measure debt, evaluate modification or extinguishment, assess going concern, or predict a final project outcome.