Munich Personal RePEc Archive

IAS 23 Borrowing Costs - A Closer Look

Muthupandian, K S (2009): IAS 23 Borrowing Costs - A Closer Look. Published in: The Management Accountant , Vol. 44, No. 11 (November 2009): pp. 873-877.

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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).

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