CTHRepealedLegislation
AASB 123 - Borrowing Costs - July 2004
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AASB 123 - Borrowing Costs - July 2004
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Turn the raw legal text into a practical explanation grounded in AASB 123 - Borrowing Costs - July 2004.
Both AASB 123.21 and AASB 1036.5.2.4 comment that, in determining the amount of borrowing costs to be capitalised where funds are borrowed generally, the expenditures against which the capitalisation rate is applied are reduced by any progress payments and grants received in connection with the qualifying asset. AASB 1036.5.2.4 further comments that it is only the cost elements of progress payments that are deducted from these expenditures. AASB 123 does not include this additional guidance in its text.