FASB ASC Topic 470 — debt issuance, interest, modification, and extinguishment

Version bound authority record for debt proceeds, discounts and premiums, issuance costs, effective interest, changed terms, extinguishment, and disclosure.

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 instrument, transaction, cash-flow, and scope 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 supplied bond and note cash flows, present-value pricing, effective-interest schedules, debt-issuance-cost presentation and amortization, accrued-interest control, and supplied modification or extinguishment routes.

Standards clock

The 2025 debt-exchanges proposal was paused in March 2026. It does not replace current Subtopic 470-50 in this dated lane.

Limitations

It does not classify hybrid instruments, choose a market yield, interpret legal terms, establish substantial difference, or approve covenant conclusions.