A guide to accounting for debt modifications and restructurings

An updated edition of RSM’s Guide to accounting for debt modifications and restructurings is now available. The guide primarily focuses on subtopics 470-50 and 470-60 of the Financial Accounting Standards Board’s (FASB) Accounting Standards Codification (ASC) Topic 470, Debt.

This edition reflects recent FASB standard-setting activity and enhancements to RSM’s interpretive guidance and illustrative examples based on issues we are seeing in practice. The following list highlights some of the more significant topics added, expanded upon, or otherwise updated in the guide:

• Removed reference to and discussion of reference rate reform due to the sunsetting of the guidance in ASC 848 as of December 31, 2024
• Updated the current status of the FASB’s technical agenda project, Accounting for Debt Exchanges

A summary of all significant changes can be found in Appendix C of the guide.

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