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In this newsletter, we look at the following topic:
Q&A on HKAS 23R - Borrowing Costs (Part 2)
This newsletter is the second and last part of Q&As on HKAS 23R. The main difference between HKAS 23 and HKAS 23R is that borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset under HKAS 23R. Under the previous HKAS 23, HKFRS preparers could either elect to capitalise such borrowing costs or to treat them as an expense. This issue addresses some of the issues arising from the application of the revised standard. HKAS 23R is effective for annual periods beginning on or after 1 January 2009. Earlier application is permitted.
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Read more by downloading our HKFRS News - Oct 2008 (pdf file, 460KB) for your reference.
Note: HKFRS has converged with IFRS effective from 1 January 2005. Contents contained in this newsletter are relevant to both HKFRS preparers and IFRS preparers.
Other Issues of HKFRS News
Accounting and Listing Rules Updates | 
