IAS 23 Borrowing Costs - A Closer Look

Muthupandian K S

MPRA Paper from University Library of Munich, Germany

Abstract: The International Accounting Standards Committee issued the the International Accounting Standard 23, Borrowing Costs. The objective of IAS 23 is to prescribe the accounting treatment for borrowing costs. This standard requires the capitalisation of all borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset. IAS 23 requires all borrowing costs capitalised as part of the cost of the asset, where the borrowing costs are directly attributable to the acquisition, construction or production of a qualifying asset. This article presents a closer look of the standard (objective, scope, definitions, capitalisation and disclosures).

Keywords: International Accounting Standard; Borrowing Costs; Qualifying Assets; IAS 23; IASC; IASB; FASB (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2009-10-20
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Published in The Management Accountant 11.44(2009): pp. 873-877

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