General borrowings in AS-7

AS 504 views 3 replies

Whether interest paid on General borrowings will be as contract cost as per AS-7

Replies (3)
Yes interest on general borrowing shall be treated as contract cost

Only that part of int of borrowings should be Debited as a contract cost which is attrtibutable to contract  since in ur q u said its genearl borrowing.

Originally posted by : TusharSSampatM.Com CA,CS-FINAL

Only that part of int of borrowings should be Debited as a contract cost which is attrtibutable to contract  since in ur q u said its genearl borrowing.


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