As 16 borrowing cost

Para 10.

To the extent that funds are borrowed specifically for the purpose of obtaining a qualifying asset, the amount of borrowing costs eligible for capitalisation on that asset should be determined as the actual borrowing costs incurred on that borrowing during the period less any income on the temporary investment of those borrowings.

Para 14.

The capitalisation of borrowing costs as part of the cost of a qualifying asset should commence when all the following conditions are satisfied:

1. expenditure for the acquisition, construction or production of a qualifying asset is being incurred;(1/7/10)
2. borrowing costs are being incurred; (1/4/10) and
3. activities that are necessary to prepare the asset for its intended use or sale are in progress.(find this date/ if exam question assume this condition complied)