CONTENTS

COMPILATION DETAILS

Comparison With IAS 23

Accounting Standard

AASB 123 Borrowing Costs

Paragraphs

Core Principle 1 – Aus1.0

Application Aus1.1 – Aus1.5

Reduced Disclosure Requirements Aus1.6 – Aus1.7

Scope 2 – 4

Definitions 5 – 7

Recognition 8 – 9

Borrowing Costs Eligible for Capitalisation 10 – 15

Excess of the Carrying Amount of the Qualifying Asset Over Recoverable Amount 16

Commencement of Capitalisation 17 – 19

Suspension of Capitalisation 20 – 21

Cessation of Capitalisation 22 – 25

Disclosure 26 – Aus26.1

Transitional Provisions 27 – 28

Effective Date 29A – 29B

Deleted IAS 23 text Page 12

BASIS FOR CONCLUSIONS Page 13

BASIS FOR CONCLUSIONS ON IAS 23
(available on the AASB website)

Australian Accounting Standard AASB 123 Borrowing Costs (as amended) is set out in paragraphs 1 – 29B. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Terms defined in this Standard are in italics the first time they appear in the Standard. AASB 123 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations. In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.