1. Define borrowing costs. 2. Give examples of borrowing costs. 3. What is a qualifying asset...

 

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1. Define borrowing costs. 2. Give examples of borrowing costs. 3. What is a qualifying asset for purposes of capitalization of borrowing cost? 4. Give examples of qualifying asset. 5. What are the assets that are specifically excluded from the term "qualifying asset"? 6. Explain the accounting for borrowing cost. 7. Explain the capitalization of borrowing cost for asset financed by specific borrowing. 8. Explain the capitalization of borrowing cost for asset financed by general borrowing. 9. Explain the capitalization of borrowing cost for asset financed by both specific and general borrowing. 10. Explain the treatment of investment income from temporary investment of specific borrowing and general borrowing. 11. Explain commencement of capitalization of borrowing cost. 12. Explain the activities necessary to prepare the asset for the intended use. 13. Explain suspension of capitalization of borrowing cost. 14. Explain cessation of capitalization of borrowing cost. 15. What are the necessary disclosures related to borrowing cost? 1. Define borrowing costs. 2. Give examples of borrowing costs. 3. What is a qualifying asset for purposes of capitalization of borrowing cost? 4. Give examples of qualifying asset. 5. What are the assets that are specifically excluded from the term "qualifying asset"? 6. Explain the accounting for borrowing cost. 7. Explain the capitalization of borrowing cost for asset financed by specific borrowing. 8. Explain the capitalization of borrowing cost for asset financed by general borrowing. 9. Explain the capitalization of borrowing cost for asset financed by both specific and general borrowing. 10. Explain the treatment of investment income from temporary investment of specific borrowing and general borrowing. 11. Explain commencement of capitalization of borrowing cost. 12. Explain the activities necessary to prepare the asset for the intended use. 13. Explain suspension of capitalization of borrowing cost. 14. Explain cessation of capitalization of borrowing cost. 15. What are the necessary disclosures related to borrowing cost?

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Heres a breakdown of borrowing costs and their accounting treatment Borrowing Costs These are the interest and other fees incurred when borrowing money This includes Interest on loans and bank overdra... View the full answer