91影视

Short-term debt is the type of current liabilities which is the financial obligation of the business which is expected to be repaid within one year. Examples of short-term debts are accounts payable, wages, and bank-provided loans.

The evidence required to demonstrate the ability to consummate the refinancing of short-term debt includes:

Substituting a short-term debt with another short-term debt after the balance sheet date but before the issuance of the balance sheet is insufficient to demonstrate an ability to refinance the short-term debt on a long-term basis. Total current liabilities shall be indicated in classified balance sheets. If a short-term debt is not included in current liabilities, the financial statement notes shall comprise an explanation of the financing agreement and the terms of any debt incurred or estimated to be incurred or equity securities issued or anticipated to be issued due to refinancing.