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ASC 470, Debt, provides the primary accounting and reporting guidance for debt for all reporting entities. In addition, ASC 210, Balance Sheet, provides general guidance on what is included in current liabilities. However, the guidance for separate classification of 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.

PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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