About this document

GASB Standards for Debt Refundings by Candice Lindquist is a document available to read on EtoBox.

GASB Statement No. 23 establishes accounting and financial reporting standards for current and advance refundings resulting in defeasance of debt reported by proprietary activities. It requires that the difference between the reacquisition price and the net carrying amount of old debt be deferred and amortized as interest expense over the shorter of the remaining life of the old debt or the new debt. The provisions are effective for financial statements issued for periods beginning after June 15, 1994, with

Author

Candice Lindquist

Language

EN