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Thursday 23 October 2014

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Borrowing Costs

Exposure draft [May 2006]


 

 Exposure draft and comment letters


 

The proposals mark another step towards convergence of international and national standards by continuing the IASB’s work in its joint short-term convergence project with the US Financial Accounting Standards Board (FASB). The objective of the project is to reduce differences between the IASB’s International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP).

The Exposure Draft results from the IASB’s comparison of IAS 23 Borrowing Costs with the US standard SFAS 34 Capitalization of Interest Cost. The proposed amendments to IAS 23 would remove a major difference between the accounting treatments for borrowing costs under the two standards

 

Comment Letter deadline: The exposure draft was open until 29 September 2006, the comment period has now closed Click here to view the comment letetrs.

Access the due process documents

 

Due process documents
Exposure Draft: Proposed amendments to IAS 23 Borrowing costs [English] [PDF, 364 KB]