IFRS Notes

Refinancing on a long-term basis
ias01-a07

Refinancing for at least twelve months after the reporting period

IAS1-pr73
If an entity expects, and has the discretion,
under an existing loan facility,
to refinance an obligation with a long-term loan,
reclassify the obligation as non-current.

IAS1-pr76
Refinancing on a long-term basis
is a non-adjusting events after the reporting period

U.S. GAAP
Intent and ability to refinance on a long-term basis
asc-470-10-45-14

If an entity intends to refinance short-term obligation
on a long-term basis,
such obligation is excluded from current liabilities.

In the following cases, intent is supported by ability:
(1) refinancing agreement,
before the balance sheet is issued
(2) long-term obligation replaces short-term obligation,
after the balance sheet date,
before the balance sheet is issued