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IAS 23

This topic has 1 reply, 2 voices, and was last updated 3 years ago by P2-D2.

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November 19, 2021 at 1:57 am #641032
johnbriane
Member
- Topics: 170
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Hi
Related to IAS 23 – burrowing costs
The concept is that ,
While economic benefits are being felt from the asset to the company is the time at which the financial costs ( interest costs ) will be treated as financial liabilities
Is this statement of mine correct sir ?
November 20, 2021 at 8:48 am #641132
P2-D2
Keymaster
- Topics: 4
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Hi,
I’d just try to follow the rules in the standard itself with regards to when we start to capitalise the borrowing costs, when we suspend capitalisation and when we stop capitalising.
Thanks
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