{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/470/10/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"470","topic_title":"Debt","subtopic":"470-10","subtopic_title":"Overall","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"470-10-05-1","para":"05-1","html":"
The Codification contains several Topics that address certain aspects of the accounting for debt. The Topics include:
  1. a
    Liabilities
  2. b
    Debt
  3. c
    Distinguishing Liabilities from Equity.
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The Debt Topic provides accounting and reporting guidance for borrowers. This Topic includes the following Subtopics:
  1. a
    Overall
  2. b
    Debt with Conversion and Other Options
  3. c
    Participating Mortgage Loans
  4. d
    Product Financing Arrangements
  5. e
    Modifications and Extinguishments
  6. f
    Troubled Debt Restructurings by Debtors.
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The Liabilities Topic provides accounting and reporting guidance related to liabilities typically considered short-term in nature, and certain guidance that may apply broadly to any liability, including those addressed in this Topic.
","snippet":"The Liabilities Topic provides accounting and reporting guidance related to liabilities typically considered short-term in nature, and certain guidance that may apply broadly to any liability, including those addressed i…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e7d87118d3365f312555cad4c77bdfde10ed10bb017f0ff4fd56081432df060","downloaded_from":"2026-09-10T00:30:16.675Z","last_downloaded_at":"2026-09-10T00:30:16.675Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481262","source_sha256":"9991113cb874636cafdb1376a171d6fc6f322aadf8ece97e318421070858836c"}},{"citation":"470-10-05-4","para":"05-4","html":"
The Distinguishing Liabilities from Equity Topic provides accounting and reporting guidance for determining whether a transaction represents a liability or equity.
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The Overall Subtopic addresses classification determination for specific obligations, such as the following:
  1. a
    Short-term obligations expected to be refinanced on a long-term basis
  2. b
    Due-on-demand loan arrangements
  3. c
    Callable debt
  4. d
    Sales of future revenue
  5. e
    Increasing rate debt
  6. f
    Debt that includes covenants
  7. g
    Revolving credit agreements subject to lock-box arrangements and subjective acceleration clauses
  8. h
    Indexed debt.
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