# ASC 470-10-05: Debt — Overall — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/470/10/#05-overview-and-background)

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## ASC 470-10-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/470/10/#05-overview-and-background)

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##### [470-10-05-1](https://asc.understandingaccounting.org/asc/470/10/#470-10-05-1)

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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.

##### [470-10-05-2](https://asc.understandingaccounting.org/asc/470/10/#470-10-05-2)

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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.

##### [470-10-05-3](https://asc.understandingaccounting.org/asc/470/10/#470-10-05-3)

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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.

##### [470-10-05-4](https://asc.understandingaccounting.org/asc/470/10/#470-10-05-4)

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The Distinguishing Liabilities from Equity Topic provides accounting and reporting guidance for determining whether a transaction represents a liability or equity.

##### [470-10-05-5](https://asc.understandingaccounting.org/asc/470/10/#470-10-05-5)

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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.

##### [470-10-05-6](https://asc.understandingaccounting.org/asc/470/10/#470-10-05-6)

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##### [470-10-05-7](https://asc.understandingaccounting.org/asc/470/10/#470-10-05-7)

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