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What is Understanding PAS 23 Borrowing Costs about?

This document discusses PAS 23 Borrowing Costs. It states that borrowing costs directly attributable to the acquisition, construction, or production of a qualifying asset should be capitalized as part of the cost of that asset, while other borrowing costs are recognized as an expense. A qualifying asset is one that takes a substantial period of time to get ready for its intended use or sale. The document provides examples of qualifying and non-qualifying assets and outlines the accounting treatment for capi

Author

Marriel Fate Cullano

Language

EN