Paul R. Bahnson, professor; David Koeppen, (not pictured) emeritus professor; and Troy Hyatt, associate professor in the Department of Accountancy have written an article titled “Improving Income Statement Reporting of Debt Extinguishments.” The article is published in November 2017 issue of The CPD Journal. The paper suggests that FASB reestablish separate line item reporting for debt extinguishment transactions to ensure users can fully comprehend their impact.
Read “Improving Income Statement Reporting of Debt Extinguishments” here.