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AASB 123 - Borrowing Costs - June 2007
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Core Principle
1 Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. Other borrowing costs are recognised as an expense.
Aus1.0 In respect of not-for-profit public sector entities[1], borrowing costs may be expensed in accordance with paragraph Aus8.1.