IAS 23 (Borrowing Costs)

IAS 23 (Borrowing Costs) - IAS 23 Click to edit Master...

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Click to edit Master subtitle style 3/20/11 Borrowing Costs IAS 23
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3/20/11 Effective for fiscal years ending after 01/01/09 Previous version permitted two allowable alternatives: ü Expense all borrowing costs in period incurred (benchmark) ü Capitalize some and expense the rest (Allowable) § Conceptually and computationally similar to US GAAP § A few definitional differences (e.g., borrowing costs, not interest costs) Current IFRS (IAS 23): Capitalize some of the Current version of IAS 23
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3/20/11 Borrowing costs ü Interest on ST and LT borrowings (debt) ü Premiums and discounts related to borrowings ü Other costs related to borrowings (e.g., foreign currency exchange gains/losses) Qualifying asset: takes a substantial amount of time
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IAS 23 (Borrowing Costs) - IAS 23 Click to edit Master...

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