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ias 23

This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.

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July 21, 2017 at 4:19 pm #397969
adarsh1997
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Hi Mike!
I am actually a bit confused with ‘ general borrowing’ concerning IAS 23.
Does that mean that a business borrowed different loans with the main purpose of building a qualifying asset?
July 21, 2017 at 5:21 pm #397972
MikeLittle
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General borrowing is money that an entity has borrowed but NOT for financing the construction of a qualifying asset
In addition, for the purposes of understanding IAS 23, the same entity has borrowed money specifically to finance the construction of a qualifying asset
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