As indicated in the chapter, the GASE takes a different position with respect to capitalization of interest

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As indicated in the chapter, the GASE takes a different position with respect to capitalization of interest during periods of construction than does the FASB. Inasmuch as there appears to be little difference in the nature of the transactions, especially when conducted as part of a government's business-type activities, do you think that the GASE is justified in promulgating a standard that is at variance with that of the FASE? Justify your opinion.

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Government And Not For Profit Accounting Concepts And Practices

ISBN: 9781119803898

9th Edition

Authors: Michael H. Granof, Saleha B. Khumawala, Thad D. Calabrese

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