Expand
Resize
Add to favorites
ASC 470-60-50 provides specific disclosures for a troubled debt restructuring. It requires that a troubled borrower disclose the following, either in the financial statements or the footnotes:
  • A description of the principal changes in terms, major features of settlement, or both
  • Aggregate gain on restructuring of payables
  • Aggregate net gain or loss on transfers of assets recognized during the period (see FSP 22 for guidance on transfers)
  • Per-share amount of the aggregate gain on restructuring of payables
Reporting entities may group separate restructurings within a fiscal period for the same category of payables (for example, accounts payable or subordinated debentures) for disclosure purposes.
For financial statement periods after the troubled debt restructuring, the borrower should disclose amounts contingently payable that are included in the carrying amount of restructured payables and the conditions under which those amounts would become payable or be forgiven.
Expand

Welcome to Viewpoint, the new platform that replaces Inform. Once you have viewed this piece of content, to ensure you can access the content most relevant to you, please confirm your territory.

Your session has expired

Please use the button below to sign in again.
If this problem persists please contact support.

signin option menu option suggested option contentmouse option displaycontent option contentpage option relatedlink option prevandafter option trending option searchicon option search option feedback option end slide