CTHRepealedLegislation
AASB 123 - Borrowing Costs - July 2004
B.7 Source and specific application of bB.7 Source and specific application of borrowed funds
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B.7 Source and specific application of borrowed funds
AASB 1036.5.3.1 provides guidance on identifying circumstances in which funds could be regarded as borrowed specifically for acquiring, constructing or producing a qualifying asset, and comments that it may only be in very simple or start-up operations or in relation to particular projects that a direct link can be drawn between the source and specific application of borrowed funds. AASB 123 does not include similar guidance in its text.