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Classification of Liabilities (Proposed amendments to IAS 1)
February, 23rd 2015

Exposure Draft published by the International Accounting Standards Board (IASB) for comment only. Comments on the Exposure Draft need to be received by May 10, 2015.

The International Accounting Standards Board (IASB) has published this Exposure Draft of proposed amendments to IAS 1 Presentation of Financial Statements to address:

(a)  replacing ‘discretion’ in paragraph 73 of the Standard with ‘right’ to align it with the requirements of paragraph 69(d) of the Standard;

(b)  making it explicit in paragraphs 69(d) and 73 of the Standard that only rights in place at the reporting date should affect this classification of a liability; and 

(c)  deleting ‘unconditional’ from paragraph 69(d) of the Standard so that ‘an unconditional right’ is replaced by ‘a right’. 

Invitation to comment 

ASB invites comments on the Exposure Draft from the public. The downloadable version of the draft is available at: 

Comments would be most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording. 

How to comment 

Comments should be submitted using one of the following methods: 

1.   Electronically: Click on the below mentioned option to submit a comment letter or Visit at the following link (Preferred method): 

2.  Email: Comments can be sent to: 

3.  Postal: 
Secretary, Accounting Standards Board,
The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg,
New Delhi 110 002

Further clarifications on this exposure draft may be sought by e-mail to

Comments are invited on the proposals in this Exposure Draft, particularly on the questions set out in the Exposure Draft

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