Capitalisation of borrowing costs

Mike Davies, Ron Paterson and Allister Wilson
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Mike Davies: Ernst & Young
Ron Paterson: Ernst & Young
Allister Wilson: Ernst & Young

Chapter Chapter 10 in UK Gaap, 1992, pp 587-626 from Palgrave Macmillan

Abstract: Abstract The accounting treatment of the costs incurred on borrowings obtained to finance asset acquisitions achieved prominence in the UK through the growth of the large property companies in the 1950s and 1960s. However, as a result of the House of Lords decision in the Chancery Lane case1 in 1966, the accounting treatment of property company development interest was frequently governed by the achievement of a particular tax result, rather than being based on sound accounting principles.

Keywords: Equity Capital; Property Development; Investing Company; Fixed Asset; Capitalisation Rate (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12998-0_10

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DOI: 10.1007/978-1-349-12998-0_10

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