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12.2 Debt — scope and relevant guidance
Publication date: 31 May 2022
us Financial statement presentation guide
ASC 470, Debt, provides the primary accounting and reporting guidance for debt for all reporting entities. However, its guidance for separate classification of current assets and current liabilities is only applicable when a reporting entity prepares a classified balance sheet.
For SEC registrants, Regulation S-X Rule 5-02 and Regulation S-X Rule 4-08 provide disclosure requirements for debt. ASC 470-10-S99-3, Classification of Short-term Obligations—Debt Related to Long-Term Projects, also provides classification guidance for SEC registrants.
Finally, SEC registrants that issue registered securities that are guaranteed, or that guarantee a registered security, are subject to Regulation S-X Rule 13-01.
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