Short-term Bank Facilities
Code: 2190
👁 Views: 109
Account Information
| Financial Statement | Statement of Financial Position |
| Normal Balance | Credit |
Definition
This account represents all short-term bank and credit facilities due within one year, such as short-term loans, overdrafts, and current portion of lease liabilities.
Sub-accounts
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IFRS 9
Financial Instruments
US GAAP
ASC 470
Debt
❓ Frequently Asked Questions
Q: What are short-term bank facilities?
A: Credit facilities from banks due within one year, such as short-term loans, overdrafts, and current lease liability installments.
Q: How are these facilities measured?
A: Measured at amortized cost using the effective interest rate method.