AASB adds to AASB 123 Borrowing Costs

The AASB has added a ‘Basis for Conclusions’ to AASB 123 Borrowing Costs to explain its reasoning for retaining the option in the Standard for not-for-profit public sector entities to expense all borrowing costs as incurred. AASB 123 was previously amended in April 2009 by AASB 2009-1 Amendments to Australian Accounting Standards – Borrowing Costs of Not-for-Profit Public Sector Entities to incorporate the option as an interim measure pending the outcome of related work.

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