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Reader Comments on ::   Borrowing Cost (Sec 25)
As per Section 25 of BAS for SME, An entity shall recognize all borrowing cost as an expense in Profit or Loss in the period in which they are incurred.

It means borrowing cost for new project fixed assets cannot be capitalized. In this regard please clarify whether we have to decapitalize borrowing cost which was capitalized at the time of inception of the plant to give effect on the present status of fixed assets and charge previous year borrowing cost in the profit & loss of 2014.
Posted By: AKRUNTHALA      Posted on: 2018-05-15 11:57:13

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