• Register
Search Questions / Answers

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login in few seconds

Get AccountantAnswer App


We have taken a loan from Bank of Rs. 1000 million and paid Rs. 10 million as the processing charges. How to account for this under IFRS.
in IAS 23 - Borrowing Costs by Level 1 Member (1.3k points)

1 Answer

0 votes

Borrowing costs are interest and other costs that an entity incurs connection with the borrowing of funds (IAS 23) So it is evident that you can capitalize the processing charges.

by Level 2 Member (4.6k points)