[flop310]

When a debt is restructured from current liability to long term liability is this modification included in the notes to financial statement too?

Any opinions? Thank you!

[musicamor]

Debt restructuring typically involves some sort of forgiveness or reduction in total debt. Based on your question, this activity would not constitute disclosure because you're only restructuring to achieve different maturity dates; maturity-date adjustment is typically not considered debt restructuring–it's simply the payoff of one note and the issuance of another note with different terms. You would dislose this activity in the notes; however, it would not be considered restructuring, per se.

Texas CPA - licensed in 2012!!!

[Author]

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