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IASB posts webcast on borrowing costs and revenue recognition

  • IFRS - IASB Image

Jun 24, 2019

On June 24, 2019, the In­ter­na­tional Ac­count­ing Stan­dards Board (IASB) posted a webcast, by IASB technical staff Jawaid Dossani and Nicolette Lange, that discusses conclusions reached by the IFRS Interpretation Committee related to the application of IAS 23, ‘Borrowing Costs’ and its interaction with IFRS 15, ‘Revenue from Contracts with Customers’.

At the March 5-6, 2019 IFRS Interpretation Committee meeting, the Committee determined that borrowing costs would not be capitalized when the borrowings relate to the construction of a residential multi-unit real estate development for which revenue is recognized over time.

For more information, see the press release on the IASB’s website.

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