# ASC 835-30-45: Interest — Imputation of Interest — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/835/30/#45-other-presentation-matters)

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## ASC 835-30-45: 45 Other Presentation Matters

[Read section](https://asc.understandingaccounting.org/asc/835/30/#45-other-presentation-matters)

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##### [835-30-45-1](https://asc.understandingaccounting.org/asc/835/30/#835-30-45-1)

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The guidance in this Section does not apply to the amortization of premium and discount of assets and liabilities that are reported at fair value and the debt issuance costs of liabilities that are reported at fair value.

##### [835-30-45-1A](https://asc.understandingaccounting.org/asc/835/30/#835-30-45-1A)

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The [discount](https://asc.understandingaccounting.org/glossary/d/#discount "The difference between the net proceeds, after expense, received upon issuance of debt and the amount repayable at its maturity. See Premium.") or [premium](https://asc.understandingaccounting.org/glossary/p/#premium "The excess of the net proceeds, after expense, received upon issuance of debt over the amount repayable at its maturity. See Discount.") resulting from the determination of present value in cash or noncash transactions is not an asset or liability separable from the note that gives rise to it. Therefore, the discount or premium shall be reported in the balance sheet as a direct deduction from or addition to the face amount of the note. Similarly, debt issuance costs related to a note shall be reported in the balance sheet as a direct deduction from the face amount of that note. The discount, premium, or debt issuance costs shall not be classified as a deferred charge or deferred credit.

##### [835-30-45-2](https://asc.understandingaccounting.org/asc/835/30/#835-30-45-2)

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Paragraph [835-30-45-1A](https://asc.understandingaccounting.org/asc/835/30/#835-30-45-1A) provides requirements for the balance sheet presentation for the discount or premium and debt issuance costs of a note. The description of the note shall include the effective interest rate. The face amount of the note also shall be presented in the financial statements or disclosed in the notes to financial statements. (See paragraph [835-30-50-1](https://asc.understandingaccounting.org/asc/835/30/#835-30-50-1).)

##### [835-30-45-3](https://asc.understandingaccounting.org/asc/835/30/#835-30-45-3)

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Amortization of discount or premium shall be reported as interest expense in the case of liabilities or as interest income in the case of assets. Amortization of debt issuance costs also shall be reported as interest expense.

##### [835-30-45-4](https://asc.understandingaccounting.org/asc/835/30/#835-30-45-4)

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See Example 2 (paragraph [835-30-55-8](https://asc.understandingaccounting.org/asc/835/30/#835-30-55-8)) for illustrations of balance sheet presentation of a discount and debt issuance costs on a note.