ICAI Releases Educational Material on Ind AS 23 - Borrowing Costs



Quick Summary
The Institute of Chartered Accountants of India (ICAI) has issued new educational material focused on Ind AS 23, which deals with Borrowing Costs. This resource provides a summary of the standard and answers frequently asked questions that may arise during its implementation. It aims to clarify the accounting treatment for borrowing costs, including when they should be capitalised or expensed.

The Institute of Chartered Accountants of India has released the educational material on Ind AS 23 - Borrowing Costs. The Educational Material on Ind AS 23, Borrowing Costs addresses certain relevant aspects envisaged in the Standard by way of brief summary of the Standard and Frequently Asked Questions (FAQs) which are being/expected to be encountered while implementing the Standard. Read the official announcement below:

Accounting Standards Board
The Institute of Chartered Accountants of India
27th January, 2021

ANNOUNCEMENT

Release of Educational Material on Ind AS 23, Borrowing Costs

ICAI Releases Ind AS 23 Borrowing Costs Educational Material

Ind AS 23 prescribes the accounting treatment for recognising the borrowing costs incurred by entities. It sets out the criteria for capitalising the borrowing costs or for charging the borrowing costs as expense to the statement of profit and loss.

The Educational Material on Ind AS 23, Borrowing Costs addresses certain relevant aspects envisaged in the Standard by way of brief summary of the Standard and Frequently Asked Questions (FAQs) which are being/expected to be encountered while implementing the Standard.

Relevant link to download the Educational Material: https://www.icai.org/resource/62864asb50858.pdf

FAQ :

The educational material is designed to explain Ind AS 23, Borrowing Costs, by providing a summary of the standard and addressing common questions encountered during its implementation.

Ind AS 23 prescribes the accounting treatment for borrowing costs incurred by entities, setting criteria for capitalising these costs or charging them as an expense.

The material includes a brief summary of the Ind AS 23 standard and Frequently Asked Questions (FAQs) relevant to its implementation.

The educational material can be downloaded from the ICAI website via the provided link: https://www.icai.org/resource/62864asb50858.pdf




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