RE: RE: RE: RE: RE: RE: RE: MTN question "I'm not sure what's included in Consolidated Total Debt."
Consolidated Total Debt is defined in The Accountants Handbook in Clause 23.1 as debt being due at any time. That would mean Long and Short Term Debt in this case.
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To answer Lestats question.....Debt and Liability are not interchangeable. One is only a subgroup of the other. If Debt was stated then it does not include any of the other Liabilities, but if Liabilities was stated then it encompasses everything (including Debt)
Debt in the context of a GAAP or IFRS compliant financial statement is defined as any form of an interest bearing loan. A Liability is any financial obligation that is reasonably expected to be paid out. Therefore Debt (loan) is a Liability, but a Liability is not necessarily Debt (loan).
A Poodle is a dog but a dog is not necessarily a Poodle. Therefore a Consolidated Total Poodle would be all the Poodles but not the German Shepard or the Beagle. If the German Shepard and Beagle were to be included they would have said The Consolidated Total Dogs.