CTHRepealedLegislation
AASB 123 - Borrowing Costs - July 2004
AASB 123 and IPSAS 5AASB 123 and IPSAS 5
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AASB 123 and IPSAS 5
The International Public Sector Accounting Standards (IPSASs) are issued by the Public Sector Committee of the International Federation of Accountants.
IPSAS 5 Borrowing Costs (May 2000) is drawn primarily from IAS 23. The main differences between IPSAS 5 and AASB 123 are:
(a) commentary additional to that in AASB 123 has been included in IPSAS 5 to clarify the applicability of the standard to accounting by public sector entities; and
(b) IPSAS 5 contains a different set of definitions of technical terms from AASB 123 (paragraph 4).