Query of as 16 borrowing cost
This query is : Resolved
ISHITA GHAI
(Querist)
05 December 2014
as a statutory audtor how would you deal with the followng
abc ltd commenced construction of a flyover in mumbai in jan 2004 under BOLT scheme .
The same was completed in Feb 2005. Due to sesonal heavy rans in july 2004 n the area,the work on the flyover had to be suspended for 1 month. The company suspended the borrrowing cost of Rs 12.50 lakhs for that month from capitalisaton.
abc ltd commenced construction of a flyover in mumbai in jan 2004 under BOLT scheme .
The same was completed in Feb 2005. Due to sesonal heavy rans in july 2004 n the area,the work on the flyover had to be suspended for 1 month. The company suspended the borrrowing cost of Rs 12.50 lakhs for that month from capitalisaton.
05 December 2014
it will not be capitalised as it was temporary suspension and suspension not part of project.
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