 |
International Accounting Standards (IAS)
|
| U.S. GAAP | IFRS, IAS | Accounting Topics |
International Accounting Standard (IAS) 23
Borrowing Costs
International Financial
Reporting Standards (IFRS) |
|
International Accounting
Standards (IAS) |
|
U.S. GAAP by Topic,
Securities Law Library,
U.S. Tax Code by Section |
| International Accounting Standard (IAS) 23 |
|
IAS 23
Borrowing Costs IAS 23
first issued in March 1984 IAS 23
revised in March 2007 |
|
Borrowing
costs include: (1) interest on borrowings (2) finance charges for finance leases |
|
Borrowing
costs are (1) capitalized --> if directly attributable to --> acquisition or construction of a qualifying asset (2) expensed --> if NOT directly attributable to --> acquisition or construction of a qualifying asset |
|
Qualifying
assets may include: (1) manufacturing plants (2) investment properties (3) intangible assets (4) power generating facilities (5) inventories |
|
Inventories manufactured --> over a short period of time --> not qualifying assets |
|
Financial
assets --> not qualifying assets |
|
Assets
that are ready for their intended use or sale --> not qualifying assets |
|
IAS
23 Technical Notes |
