Question: At 31 December 20X1 (the reporting date), an entity had a loan from its bankers that is required to be settled within three months. The

At 31 December 20X1 (the reporting date), an entity had a loan from its bankers that is required to be settled within three months. The loan term was renegotiated after the reporting date and before the authorisation date of the financial statements, and the repayment date was extended by two years.

How will this loan be reported in the financial statements at 31 December 20X1?

As a non-current liability
As a current liability
A note to the financial statements providing details of the roll-over of the loan

1 only
2 only
3 only
1 and 3
2 and 3

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