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If a company was to default on bond interest and a convenant of the loan is that any default would deem the bond repayable, this would be reclassified from a non current asset to a current asset.
What if the bond holders sign a waiver, is the bond still reclassified?
Does this fall under IFR9?
What standard/s does this apply to?
“this would be reclassified from a non current asset to a current asset.”
Do you mean “non-current liability to a current liability”
If the lender signs a waiver, then why reclassify? Surely it depends upon the precise nature and bindingness of the waiver
Yes sorry I meant “liability”.
I have found the relevant chapter within the study text now, under IAS1 – I will go back to my question, many thanks 🙂
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