The first question I would be interested to hear views on is:
The new paragraphs effectively say (among other things) (they are self referential so I have tried to pull them together):
Are there many non-current liabilities that don't include at least some condition that could make them current in the next 12 months? A missed payment, a change in circumstances, etc?When an entity classifies liabilities subject to the conditions described in paragraph 72B(b) [that is they include conditions that the entity is required to comply with within the next twelve months or the debt becomes current] the entity shall present such liabilities separately in its statement of financial position.
The second question is how do people feel about creating an entirely new category of liability on the face of the Statement of Financial Position. Does this feel like a proportionate response to the issue of covenants?
Thoughts?