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What is IAS 23 Borrowing Costs Overview about?

This document summarizes IAS 23 on borrowing costs. It defines borrowing costs as interest and other costs from borrowing funds. Qualifying assets are those that take substantial time to get ready for use or sale. Borrowing costs relating to qualifying assets must be capitalized, while other borrowing costs are expensed. Capitalization begins when expenditures are incurred and activities necessary for construction begin, and ceases when construction is complete or suspended for an extended period. Disclosur

Author

ATIFREHMANWARRIACH

Language

EN