In accounting for short-term debt expected to be refinanced to long-term debt: GAAP uses the authorization date to determine classification of short-term debt to be refinanced. IFRS uses the authorization date to determine classification of short-term debt to be refinanced. IFRS uses the financial statement date to determine classification of short-term debt to be refinanced. GAAP uses the date of issue, but only for secured debt, to determine classification of short-term debt to be refinanced