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IAS Plus newsletter - Special Edition – IASB Issues Revised Standard on Borrowing Costs

Published on: 23 Apr 2007

On 29 March 2007 the International Accounting Standards Board (IASB) issued a number of amendments to IAS 23 Borrowing Costs. The amendments eliminate the option available under the previous version of the Standard to recognise all borrowing costs immediately as an expense. To the extent that borrowing costs relate to the acquisition, construction or production of a qualifying asset, the revised Standard requires that they be capitalised as part of the cost of that asset. All other borrowing costs should be expensed as incurred.

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