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What is Accounting for Borrowing Costs Under LKAS 23 about?

- Borrowing costs are interest and other costs incurred from borrowing funds. Qualifying assets that borrowing costs can be capitalized to include inventories, plants, properties under construction. - For funds borrowed specifically, capitalizable costs are actual costs less income from temporary investment. For general funds, a capitalization rate based on average borrowing costs is applied to qualifying asset expenditures. - Capitalization begins when asset expenditures and borrowing costs are incurr

Author

gracel angela tolejano

Language

EN