Business, Legal & Accounting Glossary
Extinguishment of debt refers to the elimination and/or ending of liabilities by payment.
There are a number of FASB statements providing guidance for issues related to the extinguishment of debt: FASB Statement No. 4, Reporting Gains and Losses from Extinguishment of Debt, FASB Statement No. 64, Extinguishments od Debt Made to Satisfy Sinking-Fund Requirements, FASB Statement No. 44, Accounting for Intangible Assets of Motor Carriers, FASB Statement No. 13, Accounting for Leases, and the latest release, FASB Statement No. 145, which rescinds Statements No. 4, 44, and 64, and amends 13.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Extinguishment Of Debt are sourced/syndicated and enhanced from:
This glossary post was last updated: 23rd April, 2020 | 2 Views.