Contents
INTERNATIONAL ACCOUNTING STANDARD 23
BORROWING COSTS
CORE PRINCIPLE
1
SCOPE
2
DEFINITIONS
5
RECOGNITION
8
Borrowing costs eligible for capitalisation
10
Excess of the carrying amount of the qualifying asset over recoverable amount
16
Commencement of capitalisation
17
Suspension of capitalisation
20
Cessation of capitalisation
22
DISCLOSURE
26
TRANSITIONAL PROVISIONS
27
EFFECTIVE DATE
29
WITHDRAWAL OF IAS 23 (REVISED 1993)
30
APPENDIX
Amendments to other pronouncements
29
WITHDRAWAL OF IAS 23 (REVISED 1993)
30
APPENDIX
Amendments to other pronouncements
APPROVAL BY THE BOARD OF IAS 23 ISSUED IN MARCH 2007
FOR THE ACCOMPANYING GUIDANCE LISTED BELOW, SEE PART B OF THIS EDITION
TABLE OF CONCORDANCE
AMENDMENTS TO GUIDANCE ON OTHER PRONOUNCEMENTS
FOR THE BASIS FOR CONCLUSIONS, SEE PART C OF THIS EDITION
BASIS FOR CONCLUSIONS
APPENDIX TO THE BASIS FOR CONCLUSIONS
Amendments to Basis for Conclusions on other pronouncements
DISSENTING OPINIONS
Amendments to Basis for Conclusions on other pronouncements
DISSENTING OPINIONS
International Accounting Standard 23
Borrowing Costs
(IAS 23) is set out in
paragraphs 1–30
and the Appendix. All of the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 23 should be read in the context of its
core principle
and the
Basis for Conclusions
, the
Preface to IFRS Accounting Standards
core principle
and the
Basis for Conclusions
, the
Preface to IFRS Accounting Standards
and the
Conceptual Framework for Financial Reporting
.
Basis of Preparation of Financial Statements
provides a basis for selecting and applying accounting policies in the absence of explicit guidance.
[
Refer:
IAS 8 paragraphs 10–12
]
International Accounting Standard 23
Borrowing Costs
Core principle
1
Borrowing costs
]
International Accounting Standard 23
Borrowing Costs
Core principle
1
Borrowing costs
that are directly attributable to the acquisition, construction or production of a
qualifying asset
form part of the cost of that asset. Other borrowing costs are recognised as an expense.
[
Refer:
paragraphs 8 and 9
]
Scope
2
An entity shall apply this Standard in accounting for
borrowing costs
.
3
]
Scope
2
An entity shall apply this Standard in accounting for
borrowing costs
.
3
The Standard does not deal with the actual or imputed cost of equity, including preferred capital not classified as a liability.
[
Refer:
]
4
An entity is not required to apply the Standard to
borrowing costs
directly attributable to the acquisition, construction or production of:
(a)
a
qualifying asset
measured at fair value, for example a biological asset within the scope of
Agriculture
; or
[
Agriculture
; or
[
Refer:
Basis for Conclusions paragraph BC4
]
(b)
inventories that are manufactured, or otherwise produced, in large quantities on a repetitive basis.
[
Refer:
Basis for Conclusions paragraphs BC5 and BC6
]
Definitions
5
This Standard uses the following terms with the meanings specified:
Borrowing costs
are interest and other costs that an entity incurs in connection with the borrowing of funds.
[
Refer:
paragraph 6
]
A
qualifying asset
[
Refer:
paragraph 6
]
A
qualifying asset
is an asset that necessarily takes a substantial period of time to get ready for its intended use or sale.
E1
[
Refer:
paragraph 7
]
E1
[IFRIC®
Update
, March 2019, Agenda Decision, ‘
Borrowing Costs
—Over Time Transfer of Constructed Good’
The Committee received a request about the capitalisation of borrowing costs in relation to the construction of a residential multi-unit real estate development (building).
In the fact pattern described in the request:
a.
a real estate developer (entity) constructs the building and sells the individual units in the building to customers.
b.
the entity borrows funds specifically for the purpose of constructing the building and incurs borrowing costs in connection with that borrowing.
c.
before construction begins, the entity signs contracts with customers for the sale of some of the units in the building (sold units).
d.
d.
the entity intends to enter into contracts with customers for the remaining part-constructed units (unsold units) as soon as it finds suitable customers.
e.
the terms of, and relevant facts and circumstances relating to, the entity’s contracts with customers (for both the sold and unsold units) are such that, applying paragraph 35(c) of
Revenue from Contracts with Customers
Revenue from Contracts with Customers
, the entity transfers control of each unit over time and, therefore, recognises revenue over time. The consideration promised by the customer in the contract is in the form of cash or another financial asset.
The request asked whether the entity has a qualifying asset as defined in IAS 23 and, therefore, capitalises any directly attributable borrowing costs.
Applying paragraph 8 of IAS 23, an entity capitalises borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset as part of the cost of that asset. Paragraph 5 of IAS 23 defines a qualifying asset as ‘an asset that necessarily takes a substantial period of time to get ready for its intended use or sale’.
Accordingly, the entity assesses whether, in the fact pattern described in the request, it recognises an asset that necessarily takes a substantial period of time to get ready for its intended use or sale. Depending on the particular facts and circumstances, the entity might recognise a receivable, a contract asset and/or inventory.
The Committee concluded that, in the fact pattern described in the request:
a.
The Committee concluded that, in the fact pattern described in the request:
a.
a receivable that the entity recognises is not a qualifying asset. Paragraph 7 of IAS 23 specifies that financial assets are not qualifying assets.
b.
a contract asset that the entity recognises is not a qualifying asset. The contract asset (as defined in Appendix A to IFRS 15) would represent the entity’s right to consideration that is conditioned on something other than the passage of time in exchange for transferring control of a unit
. The intended use of the contract asset—to collect cash or another financial asset—is not a use for which it necessarily takes a substantial period of time to get ready.
c.
inventory (work-in-progress) for unsold units under construction that the entity recognises is not a qualifying asset
. In the fact pattern described in the request, this asset is ready for its intended sale in its current condition—ie the entity intends to sell the part-constructed units as soon as it finds suitable customers and, on signing a contract with a customer, will transfer control of any work-in-progress relating to that unit to the customer.
The Committee concluded that the principles and requirements in IAS 23 provide an adequate basis for an entity to determine whether to capitalise borrowing costs in the fact pattern described in the request. Consequently, the Committee decided not to add this matter to its standard-setting agenda.]
6
Borrowing costs
may include:
(a)
interest expense calculated using the effective interest method as described in
;
[
Refer:
;
[
Refer:
IFRS 9 Appendix A
and
paragraphs 5.4.1, 5.4.2
and
B5.4.1–B5.4.7
]
(b)
[deleted]
(c)
[deleted]
(d)
interest in respect of lease liabilities recognised in accordance with
Leases
[
Refer:
IFRS 16 paragraphs 36(a)
and
37
]
; and
(e)
exchange differences arising from foreign currency borrowings to the extent that they are regarded as an adjustment to interest costs.
E2
[
Refer:
E2
[
Refer:
Basis for Conclusions paragraph BC20
]
E2
[IFRIC®
Update
, January 2008, Agenda Decision, ‘
Borrowing Costs
(as revised in 2007)—Foreign exchange and capitalisable borrowing costs’
Borrowing Costs
(as revised in 2007)—Foreign exchange and capitalisable borrowing costs’
The IFRIC received a request for guidance on which foreign exchange differences may be regarded as adjustments to interest costs for the purpose of applying IAS 23. IAS 23 states that ‘Borrowing costs may include…exchange differences arising from foreign currency borrowings
to the extent
to the extent
that they are regarded as an adjustment to interest costs’ (emphasis added). The request asked for guidance both on the treatment of foreign exchange gains and losses and on the treatment of any derivatives used to hedge such foreign exchange exposures.
The IFRIC noted that the principle set out in paragraph 8 of IAS 23 states ‘an entity shall capitalise borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset as part of the cost of that asset.’ The IFRIC also noted that paragraph 11 states ‘the determination of the amount of borrowing costs that are directly attributable to the acquisition of a qualifying asset is difficult and the exe
re directly attributable to the acquisition of a qualifying asset is difficult and the exercise of judgement is required.’ Consequently, how an entity applies IAS 23 to foreign currency borrowings is a matter of accounting policy requiring the exercise of judgement.
Presentation of Financial Statements
[now
Basis of Preparation of Financial Statements
] requires clear disclosure of significant accounting policies and judgements that are relevant to an understanding of the financial statements.
The IFRIC noted that, notwithstanding the guidance in paragraphs 8 and 11 of IAS 23, the standard itself acknowledges that judgement will be required in its application and appropriate disclosure of accounting policies and judgements would provide users with the information they need to understand the financial statements. The IFRIC concluded that it was unnecessary to provide application guidance
. The IFRIC concluded that it was unnecessary to provide application guidance. The IFRIC also noted that, as part of its project to amend IAS 23, the Board specifically considered this issue and decided not to develop further guidance in this area. The IFRIC concluded that it should not develop guidance as the Board had already decided not to provide it.
The IFRIC therefore decided not to add the issue to its agenda.]
7
Depending on the circumstances, any of the following may be
qualifying assets
:
(a)
inventories
(b)
manufacturing plants
(c)
power generation facilities
(d)
intangible assets
(e)
investment properties
(f)
bearer plants.
(c)
power generation facilities
(d)
intangible assets
(e)
investment properties
(f)
bearer plants.
Financial assets, and inventories that are manufactured, or otherwise produced, over a short period of time, are not qualifying assets. Assets that are ready for their intended use or sale when acquired are not qualifying assets.
Recognition
8
An entity shall capitalise
borrowing costs
that are directly attributable to the acquisition, construction or production of a
qualifying asset
that are directly attributable to the acquisition, construction or production of a
qualifying asset
as part of the cost of that asset. An entity shall recognise other borrowing costs as an expense in the period in which it incurs them.
9
Borrowing costs
that are directly attributable to the acquisition, construction or production of a
qualifying asset
that are directly attributable to the acquisition, construction or production of a
qualifying asset
are included in the cost of that asset. Such borrowing costs are capitalised as part of the cost of the asset when it is probable that they will result in future economic benefits to the entity and the costs can be measured reliably. When an entity applies
Financial Reporting in Hyperinflationary Economies
Financial Reporting in Hyperinflationary Economies
, it recognises as an expense the part of borrowing costs that compensates for inflation during the same period in accordance with
paragraph 21 of that Standard
.
Borrowing costs eligible for capitalisation
10
The
borrowing costs
that are directly attributable to the acquisition, construction or production of a
qualifying asset
that are directly attributable to the acquisition, construction or production of a
qualifying asset
are those borrowing costs that would have been avoided if the expenditure on the qualifying asset had not been made. When an entity borrows funds specifically for the purpose of obtaining a particular qualifying asset, the borrowing costs that directly relate to that qualifying asset can be readily identified.
11
11
It may be difficult to identify a direct relationship between particular borrowings and a
qualifying asset
and to determine the borrowings that could otherwise have been avoided. Such a difficulty occurs, for example, when the financing activity of an entity is co‑ordinated centrally. Difficulties also arise when a group uses a range of debt instruments to borrow funds at varying rates of interest, and lends those funds on various bases to other entities in the group
. Other complications arise through the use of loans denominated in or linked to foreign currencies, when the group operates in highly inflationary economies, and from fluctuations in exchange rates. As a result, the determination of the amount of
borrowing costs
that are directly attributable to the acquisition of a qualifying asset is difficult and the exercise of judgement is required.
12
To the extent that an entity borrows funds specifically for the purpose of obtaining a
qualifying asset
, the entity shall determine the amount of borrowing costs eligible for capitalisation as the actual
borrowing costs
incurred on that borrowing during the period less any investment income on the temporary investment of those borrowings.
13
13
The financing arrangements for a
qualifying asset
may result in an entity obtaining borrowed funds and incurring associated
borrowing costs
may result in an entity obtaining borrowed funds and incurring associated
borrowing costs
before some or all of the funds are used for expenditures on the qualifying asset. In such circumstances, the funds are often temporarily invested pending their expenditure on the qualifying asset. In determining the amount of borrowing costs eligible for capitalisation during a period, any investment income earned on such funds is deducted from the borrowing costs incurred.
14
14
To the extent that an entity borrows funds generally and uses them for the purpose of obtaining a
qualifying asset
, the entity shall determine the amount of
borrowing costs
eligible for capitalisation by applying a capitalisation rate to the expenditures on that asset.
E3
The capitalisation rate shall be the weighted average of the borrowing costs applicable to all borrowings of the entity that are outstanding during the period.
[
Refer:
Basis for Conclusions paragraph BC14E
]
[
Refer:
Basis for Conclusions paragraph BC14E
]
However, an entity shall exclude from this calculation borrowing costs applicable to borrowings made specifically for the purpose of obtaining a qualifying asset until substantially all the activities necessary to prepare that asset for its intended use or sale are complete.
[
Refer:
Basis for Conclusions paragraphs BC14A–BC14D
]
[
Refer:
Basis for Conclusions paragraphs BC14A–BC14D
]
The amount of borrowing costs that an entity capitalises during a period shall not exceed the amount of borrowing costs it incurred during that period.
[
Refer:
paragraphs 28A
and
29D
for transition and effective date]
E3
[IFRIC®
Update
, September 2018, Agenda Decision, ‘Expenditures on a qualifying asset (
Borrowing Costs
)’
Borrowing Costs
)’
The Committee received a request about the amount of borrowing costs eligible for capitalisation when an entity uses general borrowings to obtain a qualifying asset.
In the fact pattern described in the request:
a.
an entity constructs a qualifying asset;
b.
In the fact pattern described in the request:
a.
an entity constructs a qualifying asset;
b.
the entity has no borrowings at the start of the construction of the qualifying asset. Partway through construction, it borrows funds generally and uses them to finance the construction of the qualifying asset; and
c.
the entity incurs expenditures on the qualifying asset both before and after it incurs borrowing costs on the general borrowings.
The request asked whether an entity includes expenditures on a qualifying asset incurred before obtaining general borrowings in determining the amount of borrowing costs eligible for capitalisation.
The Committee observed that an entity applies paragraph 17 of IAS 23 to determine the commencement date for capitalising borrowing costs. The paragraph requires an entity to begin capitalising borrowing costs when it meets all the following conditions:
a.
it incurs expenditures for the asset;
b.
it incurs borrowing costs; and
c.
it undertakes activities that are necessary to prepare the asset for its intended use or sale.
Applying paragraph 17 of IAS 23 to the fact pattern described in the request, the entity would not begin capitalising borrowing costs until it incurs borrowing costs.
Once the entity incurs borrowing costs and therefore satisfies all three conditions in paragraph 17 of IAS 23, it then applies paragraph 14 of IAS 23 to determine the expenditures on the qualifying asset to which it applies the capitalisation rate. The Committee observed that in doing so the entity does not disregard expenditures on the qualifying asset incurred before it obtains the general borrowings.
The Committee concluded that the principles and requirements in IFRS Standards provide an adequate basis for an entity to determine the amount of borrowing costs eligible for capitalisation in the fact pattern described in the request. Consequently, the Committee decided not to add this matter to its standard-setting agenda.]
15
15
In some circumstances, it is appropriate to include all borrowings of the parent and its subsidiaries when computing a weighted average of the
borrowing costs
; in other circumstances, it is appropriate for each subsidiary to use a weighted average of the borrowing costs applicable to its own borrowings.
Excess of the carrying amount of the qualifying asset over recoverable amount
16
When the carrying amount or the expected ultimate cost of the
qualifying asset
16
When the carrying amount or the expected ultimate cost of the
qualifying asset
exceeds its recoverable amount or net realisable value, the carrying amount is written down or written off in accordance with the requirements of other Standards. In certain circumstances, the amount of the write‑down or write‑off is written back in accordance with those other Standards.
Commencement of capitalisation
17
An entity shall begin capitalising
borrowing costs
as part of the cost of a
qualifying asset
17
An entity shall begin capitalising
borrowing costs
as part of the cost of a
qualifying asset
on the commencement date. The commencement date for capitalisation is the date when the entity first meets all of the following conditions:
(a)
it incurs expenditures for the asset;
(b)
it incurs borrowing costs; and
(c)
it undertakes activities that are necessary to prepare the asset for its intended use or sale.
18
Expenditures on a
qualifying asset
18
Expenditures on a
qualifying asset
include only those expenditures that have resulted in payments of cash, transfers of other assets or the assumption of interest‑bearing liabilities. Expenditures are reduced by any progress payments received and grants received in connection with the asset (see
Accounting for Government Grants and Disclosure of Government Assistance
). The average carrying amount of the asset during a period, including
borrowing costs
). The average carrying amount of the asset during a period, including
borrowing costs
previously capitalised, is normally a reasonable approximation of the expenditures to which the capitalisation rate is applied in that period.
19
The activities necessary to prepare the asset for its intended use or sale encompass more than the physical construction of the asset. They include technical and administrative work prior to the commencement of physical construction, such as the activities associated with obtaining permits prior to the commencement of the physical construction. However, such activities exclude the holding of an asset when no production or development that changes the asset’s condition is taking place
. For example,
borrowing costs
incurred while land is under development are capitalised during the period in which activities related to the development are being undertaken. However, borrowing costs incurred while land acquired for building purposes is held without any associated development activity do not qualify for capitalisation.
Suspension of capitalisation
20
An entity shall suspend capitalisation of
borrowing costs
during extended periods in which it suspends active development of a
qualifying asset
during extended periods in which it suspends active development of a
qualifying asset
.
21
An entity may incur
borrowing costs
during an extended period in which it suspends the activities necessary to prepare an asset for its intended use or sale. Such costs are costs of holding partially completed assets and do not qualify for capitalisation. However, an entity does not normally suspend capitalising borrowing costs during a period when it carries out substantial technical and administrative work
. An entity also does not suspend capitalising borrowing costs when a temporary delay is a necessary part of the process of getting an asset ready for its intended use or sale. For example, capitalisation continues during the extended period that high water levels delay construction of a bridge, if such high water levels are common during the construction period in the geographical region involved.
Cessation of capitalisation
22
An entity shall cease capitalising
borrowing costs
when substantially all the activities necessary to prepare the
qualifying asset
for its intended use or sale are complete.
23
qualifying asset
for its intended use or sale are complete.
23
An asset is normally ready for its intended use or sale when the physical construction of the asset is complete even though routine administrative work might still continue. If minor modifications, such as the decoration of a property to the purchaser’s or user’s specification, are all that are outstanding, this indicates that substantially all the activities are complete.
24
When an entity completes the construction of a
24
When an entity completes the construction of a
qualifying asset
in parts and each part is capable of being used while construction continues on other parts, the entity shall cease capitalising
borrowing costs
when it completes substantially all the activities necessary to prepare that part for its intended use or sale.
E4
E4
[IFRIC®
Update
, September 2018, Agenda Decision, ‘Borrowing costs on land (
Borrowing Costs
)’
, September 2018, Agenda Decision, ‘Borrowing costs on land (
Borrowing Costs
)’
The Committee received a request about when an entity ceases capitalising borrowing costs on land.
In the fact pattern described in the request:
a.
an entity acquires and develops land and thereafter constructs a building on that land—the land represents the area on which the building will be constructed;
b.
b.
both the land and the building meet the definition of a qualifying asset; and
c.
the entity uses general borrowings to fund the expenditures on the land and construction of the building.
The request asked whether the entity ceases capitalising borrowing costs incurred in respect of expenditures on the land (land expenditures) once it starts constructing the building or whether it continues to capitalise borrowing costs incurred in respect of land expenditures while it constructs the building.
The Committee observed that in applying IAS 23 to determine when to cease capitalising borrowing costs incurred on land expenditures:
a.
a.
an entity considers the intended use of the land. Land and buildings are used for owner-occupation (recognised as property, plant and equipment applying
Property, Plant and Equipment
); rent or capital appreciation (recognised as investment property applying
Investment Property
); or for sale (recognised as inventory applying
Inventories
); or for sale (recognised as inventory applying
Inventories
). The intended use of the land is not simply for the construction of a building on the land, but rather to use it for one of these three purposes.
b.
applying paragraph 24 of IAS 23, an entity considers whether the land is capable of being used for its intended purpose while construction continues on the building. If the land is not capable of being used for its intended purpose while construction continues on the building, the entity considers the land and building together to assess when to cease capitalising borrowing costs on the land expenditures
. In this situation, the land would not be ready for its intended use or sale until substantially all the activities necessary to prepare both the land and building for that intended use or sale are complete.
The Committee concluded that the principles and requirements in IFRS Standards provide an adequate basis for an entity to determine when to cease capitalising borrowing costs on land expenditures. Consequently, the Committee decided not to add this matter to its standard-setting agenda.]
25
A business park comprising several buildings, each of which can be used individually, is an example of a
qualifying asset
qualifying asset
for which each part is capable of being usable while construction continues on other parts. An example of a qualifying asset that needs to be complete before any part can be used is an industrial plant involving several processes which are carried out in sequence at different parts of the plant within the same site, such as a steel mill.
Disclosure
26
An entity shall disclose:
(a)
the amount of
borrowing costs
capitalised during the period; and
(b)
An entity shall disclose:
(a)
the amount of
borrowing costs
capitalised during the period; and
(b)
the capitalisation rate used to determine the amount of borrowing costs eligible for capitalisation.
Transitional provisions
27
When application of this Standard constitutes a change in accounting policy,
[
Refer:
IAS 8 paragraph 14
]
an entity shall apply the Standard to
borrowing costs
relating to
qualifying assets
for which the commencement date for capitalisation
[
Refer:
paragraphs 17–19
]
qualifying assets
for which the commencement date for capitalisation
[
Refer:
paragraphs 17–19
]
is on or after the effective date.
[
Refer:
Basis for Conclusions paragraph BC15
]
28
However, an entity may designate any date before the effective date and apply the Standard to
borrowing costs
relating to all
qualifying assets
for which the commencement date for capitalisation
[
Refer:
paragraphs 17–19
]
is on or after that date.
[
Refer:
Basis for Conclusions paragraphs BC15 and BC16
]
28A
]
is on or after that date.
[
Refer:
Basis for Conclusions paragraphs BC15 and BC16
]
28A
Annual Improvements to IFRS Standards 2015–2017 Cycle
, issued in December 2017, amended
paragraph 14
. An entity shall apply those amendments to borrowing costs incurred on or after the beginning of the annual reporting period in which the entity first applies those amendments.
[
Refer:
Basis for Conclusions paragraph BC18A
]
Effective date
29
[
Refer:
Basis for Conclusions paragraph BC18A
]
Effective date
29
An entity shall apply the Standard for annual periods beginning on or after 1 January 2009. Earlier application is permitted. If an entity applies the Standard from a date before 1 January 2009, it shall disclose that fact.
29A
Paragraph 6
was amended by
Improvements to IFRSs
29A
Paragraph 6
was amended by
Improvements to IFRSs
issued in May 2008. An entity shall apply that amendment for annual periods beginning on or after 1 January 2009. Earlier application is permitted. If an entity applies the amendment for an earlier period it shall disclose that fact.
29B
, as issued in July 2014, amended paragraph 6. An entity shall apply that amendment when it applies IFRS 9.
29C
29C
, issued in January 2016, amended paragraph 6. An entity shall apply that amendment when it applies IFRS 16.
29D
Annual Improvements to IFRS Standards 2015–2017 Cycle
, issued in December 2017, amended
paragraph 14
and added
paragraph 28A
. An entity shall apply those amendments for annual reporting periods beginning on or after 1 January 2019. Earlier application is permitted. If an entity applies those amendments earlier, it shall disclose that fact.
Withdrawal of IAS 23 (revised 1993)
30
This Standard supersedes
Borrowing Costs
revised in 1993.
Appendices
Appendix
Amendments to other pronouncements
The amendments in this appendix shall be applied for annual periods beginning on or after 1 January 2009. If an entity applies this Standard for an earlier period, the amendments in this appendix shall be applied for that earlier period. In the amended paragraphs, new text is underlined and deleted text is struck through.
* * * * *
* * * * *
The amendments contained in this appendix when this IFRS was issued in 2007 have been incorporated into the relevant IFRSs published in this volume.
Board Approvals
Approval by the Board of IAS 23 issued in March 2007
International Accounting Standard 23
Borrowing Costs
International Accounting Standard 23
Borrowing Costs
(as revised in 2007) was approved for issue by eleven of the fourteen members of the International Accounting Standards Board. Messrs Cope, Danjou and Garnett dissented. Their dissenting opinions are set out after the Basis for Conclusions.
Sir David Tweedie
Chairman
Thomas E Jones
Vice-Chairman
Mary E Barth
Hans-Georg Bruns
Anthony T Cope
Philippe Danjou
Jan Engström
Robert P Garnett
Gilbert Gélard
James J Leisenring
Warren J McGregor
Philippe Danjou
Jan Engström
Robert P Garnett
Gilbert Gélard
James J Leisenring
Warren J McGregor
Patricia L O’Malley
John T Smith
Tatsumi Yamada
Copyright ©2021 IFRS Foundation
标题: 国际会计准则23
原文标题: IAS 23
分类: IAS Standards
来源: IFRS Foundation (https://www.ifrs.org)
原文链接: https://www.ifrs.org/content/ifrs/home/issued-standards/list-of-standards/ias-23-borrowing-costs.html
原文正文链接: https://www.ifrs.org/content/dam/ifrs/publications/html-standards/english/2026/issued/ias23.html
翻译方式: 机器翻译（请专业复核）
翻译引擎: auto(google-translate-web)
翻译时间: 2026-03-15T12:32:43.708306+00:00
内容
国际会计准则23
借贷成本
核心原则
1
范围
2
定义
5
认可
8
符合资本化条件的借款费用
10
合格资产的账面金额超过可收回金额的部分
16
开始资本化
17 号
暂停资本化
20
停止资本化
22
披露
26
过渡性条款
27
生效日期
29
撤销 IAS 23（1993 年修订）
30
附录
对其他公告的修改
IAS 23 董事会于 2007 年 3 月发布的批准
有关下面列出的随附指南，请参阅本版本的 B 部分
索引表
其他公告指南的修订
有关结论的基础，请参阅本版 C 部分
结论的基础
结论基础附录
对其他声明的结论基础的修正
不同意见
国际会计准则23
借贷成本
(IAS 23) 载于
第 1––30 段
和附录。所有段落均具有同等权力，但在 IASB 采用该准则时保留了该准则的 IASC 格式。应结合 IAS 23 的背景来阅读
核心原则
和
结论的基础
, 的
国际财务报告准则会计准则前言
和
财务报告的概念框架
。国际会计准则 8
财务报表的编制基础
为在缺乏明确指导的情况下选择和应用会计政策提供基础。 [
请参阅：IAS 8 第 10–12 段
]
国际财务报告准则会计准则前言
和
财务报告的概念框架
。国际会计准则 8
财务报表的编制基础
为在缺乏明确指导的情况下选择和应用会计政策提供基础。 [
请参阅：IAS 8 第 10–12 段
]
国际会计准则23
借贷成本
核心原则
1
借贷成本
直接归因于收购、建造或生产
合格资产
构成该资产成本的一部分。其他借款费用确认为费用。 [
请参阅：第 8 段和第 9 段
]
适用范围
2
主体应当应用本准则进行会计核算
借贷成本
。 3
该准则不涉及实际或估算的股权成本，包括未归类为负债的优先资本。 [
请参阅：IAS 32
]
4
实体无需将本标准应用于
借贷成本
直接归因于收购、建造或生产：(a)
一个
合格资产
以公允价值计量，例如范围内的生物资产
国际会计标准 41
农业
;或
[
请参阅：结论基础段落 BC4
]
(二)
重复大量制造或以其他方式生产的库存。 [请参阅：结论基础第 BC5 和 BC6 段]定义5
本标准使用下列术语并具有特定的含义： 借款费用是实体因借入资金而产生的利息和其他成本。 [请参阅：第 6 段]一个合格资产
请参阅：结论基础第 BC5 和 BC6 段]定义5本标准使用下列术语并具有特定的含义： 借款费用
是实体因借入资金而产生的利息和其他成本。 [请参阅：第 6 段]一个合格资产
是一种必须需要相当长的时间才能准备好用于其预期用途或销售的资产。 E1[请参阅：第 7 段]E1[国际财务报告解释委员会®更新，2019 年 3 月，议程决定，‘国际会计准则第 23 号借贷成本——随着时间的推移，建筑产品的转移”
委员会收到了关于与住宅多单元房地产开发（建筑物）建设相关的借款费用资本化的请求。在请求中描述的事实模式中：房地产开发商（实体）建造建筑物并将建筑物中的各个单元出售给客户。 b.该实体专门为建造建筑物而借入资金，并产生与该借款相关的借款费用。 c.在施工开始之前，实体与客户签订合同，出售建筑物中的某些单元（已售单元）。 d.该实体打算在找到合适的客户后立即与客户就剩余的部分建造的单元（未售出的单元）签订合同。 e.
实体与客户（已售出和未售出的单位）签订的合同的条款以及相关事实和情况，适用第 35(c) 段国际财务报告准则第 15 号与客户签订的合同收入
，主体随着时间的推移转移对每个单位的控制权，因此随着时间的推移确认收入。客户在合同中承诺的对价为现金或其他金融资产的形式。该请求询问该实体是否拥有 IAS 23 中定义的合格资产，因此是否将任何直接归属的借款成本资本化。根据 IAS 23 第 8 段，实体将直接归属于合格资产的购置、建造或生产的借款成本资本化，作为该资产成本的一部分。 IAS 23 第 5 段将合格资产定义为“必须花费相当长的时间才能准备好其预期使用或销售的资产”。因此，主体评估在请求中描述的事实模式中，其是否确认一项资产必须需要相当长的时间才能准备好其预期使用或销售。根据具体事实和情况，主体可能会确认应收账款、合同资产和/或存货。委员会的结论是，根据请求中描述的事实模式：主体确认的应收账款不属于合格资产。 IAS 23 第 7 段规定金融资产不属于合格资产。 b.主体确认的合同资产不属于合格资产。合同资产（如 IFRS 15 附录 A 中的定义）将代表实体获得对价的权利，该对价权利的条件不是时间的推移，以换取单位控制权的转移。合同资产的预期用途（收取现金或其他金融资产）不一定需要花费相当长的时间才能准备好
。合同资产的预期用途（收取现金或其他金融资产）不一定需要花费相当长的时间才能准备好。 c.实体确认不属于合格资产的未售出在建单位的库存（在制品）。在请求中描述的事实模式中，该资产已准备好在其当前状况下进行预期销售，即实体打算在找到合适的客户后立即出售部分建造的单元，并且在与客户签订合同时，将把与该单元相关的任何在制品的控制权转移给客户。委员会的结论是，IAS 23 中的原则和要求为实体确定是否按照请求中描述的事实模式将借款成本资本化提供了充分的基础。因此，委员会决定不将此事项添加到其标准制定议程中。]
6借贷成本可能包括：（一）使用实际利率法计算的利息费用，如国际财务报告准则第 9 号; [请参阅：IFRS 9 附录 A和第 5.4.1、5.4.2 段和B5.4.1––B5.4.7]
(二)[已删除]
(三)[已删除]
(四)根据以下规定确认的租赁负债利息国际财务报告准则第 16 号租赁[
请参阅：IFRS 16 第 36(a) 段和37];和
（五）外币借款产生的汇兑差额被视为利息成本的调整。 E2[请参阅：结论基础段落 BC20]E2[国际财务报告解释委员会®更新，2008 年 1 月，议程决定，‘国际会计准则第 23 号借贷成本
（2007年修订）——外汇和可资本化借款费用”IFRIC 收到了一份关于外汇差异可被视为应用 IAS 23 的利息成本调整的指导请求。
IAS 23 规定“借款成本可能包括……外币借款产生的汇兑差额”在某种程度上
它们被视为对利息成本的调整”（强调）。该请求要求就外汇损益的处理以及用于对冲此类外汇风险的任何衍生品的处理提供指导。 IFRIC 指出，IAS 23 第 8 段规定的原则规定“实体应将可直接归属于合格资产的收购、建造或生产的借款费用资本化，作为该资产成本的一部分。”IFRIC 还指出，第 11 段规定“确定可直接归属于合格资产的收购的借款费用金额很困难，需要运用判断。”因此，实体如何将 IAS 23 应用到外币借款是一个需要作出判断的会计政策问题。国际会计准则1财务报表的列报[现在国际会计准则 8财务报表的编制基础
财务报表的列报[现在国际会计准则 8财务报表的编制基础] 要求明确披露与理解财务报表相关的重要会计政策和判断。 IFRIC 指出，尽管有 IAS 23 第 8 段和第 11 段的指导，但该准则本身承认在应用时需要做出判断，并且适当披露会计政策和判断将为用户提供理解财务报表所需的信息。 IFRIC 的结论是没有必要提供应用指南。 IFRIC 还指出，作为修订 IAS 23 项目的一部分，理事会专门考虑了这一问题，并决定不再制定该领域的进一步指南。 IFRIC 的结论是，它不应制定指南，因为理事会已决定不提供指南。因此，IFRIC 决定不将该问题添加到其议程中。]7根据具体情况，可能存在以下任一情况合格资产：（一）库存
(二)制造工厂
(三)发电设施
(四)无形资产
（五）投资物业
（六）生产植物。在短时间内制造或以其他方式生产的金融资产和库存不属于合格资产。购买时已达到预定用途或可出售状态的资产不属于合格资产。认可8实体应资本化借贷成本直接归因于收购、建造或生产合格资产
作为该资产成本的一部分。主体应当将其他借款费用在其发生期间确认为费用。 9
8实体应资本化借贷成本直接归因于收购、建造或生产合格资产作为该资产成本的一部分。主体应当将其他借款费用在其发生期间确认为费用。 9借贷成本直接归因于收购、建造或生产合格资产
包含在该资产的成本中。当此类借款费用很可能为企业带来未来经济利益且其成本能够可靠地计量时，予以资本化，计入资产成本。实体提出申请时国际会计准则第 29 号恶性通货膨胀经济体的财务报告，将借款费用中用于补偿同期通货膨胀的部分，按照下列规定确认为费用：该标准的第 21 段。符合资本化条件的借款费用10的借贷成本直接归因于收购、建造或生产合格资产
是指如果不支付合格资产的支出，本可以避免的借款成本。当主体专门为获得特定合格资产而借入资金时，可以轻松识别与该合格资产直接相关的借款成本。
11确定特定借款与特定借款之间的直接关系可能很困难。
合格资产并确定本来可以避免的借款。例如，当一个实体的融资活动是集中协调时，就会出现这种困难。当一个集团使用一系列债务工具以不同的利率借入资金，并以不同的基础将这些资金贷给集团内的其他实体时，也会出现困难。当集团在高通胀经济体中运营时，由于使用外币计价或与外币挂钩的贷款以及汇率波动，还会出现其他复杂情况。由此，确定了用量借贷成本
直接归因于收购合格资产是困难的，需要运用判断。 12如果实体借入资金专门用于获得合格资产，企业应当将符合资本化条件的借款费用金额确定为实际发生的借款费用金额。
借贷成本期间该借款产生的金额减去该借款临时投资的任何投资收益。 13融资安排合格资产可能导致实体获得借入资金并产生相关费用借贷成本
在部分或全部资金用于合格资产的支出之前。在这种情况下，资金通常会暂时进行投资，等待合格资产的支出。在确定某一期间符合资本化条件的借款费用金额时，从发生的借款费用中扣除该资金所赚取的任何投资收益。 14如果实体通常借入资金并将其用于获得合格资产，该实体应确定金额借贷成本
如果实体通常借入资金并将其用于获得合格资产，该实体应确定金额借贷成本
通过对该资产的支出应用资本化率来获得资本化资格。 E3资本化率根据本单位当期全部借款所适用的借款费用的加权平均数确定。 [请参阅：结论基础段落 BC14E]
然而，主体应将专门为获得合格资产而发生的借款费用排除在计算之外，直到准备该资产用于其预定用途或销售的所有必要活动基本上完成为止。 [
请参阅：结论基础段落 BC14A–BC14D]企业在一定期间内资本化的借款费用金额不得超过该期间发生的借款费用金额。 [请参阅：第 28A 段和29D过渡和生效日期]E3[国际财务报告解释委员会®更新，2018 年 9 月，议程决定，“合格资产的支出（国际会计准则第 23 号借贷成本）’
委员会收到了关于实体使用一般借款以获得合格资产时符合资本化条件的借款费用金额的请求。在请求中描述的事实模式中：实体建造合格资产； b.该实体在合格资产建造开始时没有借款。在建设过程中，一般会借入资金，用于建设合格资产；和
c.主体在产生一般借款的借款成本之前和之后都会在合格资产上产生支出。该请求询问实体在确定符合资本化条件的借款成本金额时是否包括获得一般借款之前发生的合格资产支出。委员会注意到，实体应用《国际会计准则》第 23 条第 17 段来确定借款费用资本化的开始日期。该段要求实体在满足以下所有条件时开始资本化借款费用：它产生资产支出； b.产生借贷成本；和
c.
它开展为准备资产用于其预期用途或销售而必需的活动。将 IAS 23 的第 17 段应用于请求中描述的事实模式，实体在发生借款费用之前不会开始资本化借款费用。一旦主体产生借款成本并因此满足《国际会计准则》第 23 条第 17 段中的所有三个条件，则该实体将应用《国际会计准则》第 23 条第 14 段来确定适用资本化率的合格资产的支出。委员会注意到，实体这样做并没有忽视在获得一般借款之前发生的合格资产支出。委员会的结论是，《国际财务报告准则》中的原则和要求为实体提供了充分的基础，可以根据请求中描述的事实模式确定符合资本化条件的借款费用金额。因此，委员会决定不将此事项添加到其标准制定议程中。]15
在某些情况下，在计算加权平均数时，应将母公司及其子公司的所有借款包括在内。
借贷成本;在其他情况下，各子公司宜采用适用于其自身借款的借款费用的加权平均数。合格资产的账面金额超过可收回金额的部分16当账面金额或预计最终成本合格资产
超过其可收回金额或可变现净值的，按照其他准则的规定减记或核销其账面价值。在某些情况下，减记或核销的金额根据其他准则予以转回。开始资本化17 号
16当账面金额或预计最终成本合格资产超过其可收回金额或可变现净值的，按照其他准则的规定减记或核销其账面价值。在某些情况下，减记或核销的金额根据其他准则予以转回。开始资本化17 号实体应开始资本化借贷成本作为成本的一部分合格资产
在开始日期。资本化开始日期是实体首次满足以下所有条件的日期： (a)它产生资产支出； (二)产生借贷成本；和
(三)它开展为准备资产用于其预期用途或销售而必需的活动。 18支出于合格资产
仅包括导致支付现金、转让其他资产或承担带息负债的支出。支出因收到的任何进度付款和收到的与资产有关的赠款而减少（见国际会计准则第 20 号政府补助的会计处理和政府援助的披露）。资产在一定期间内的平均账面价值，包括借贷成本
先前资本化的支出通常是该期间应用资本化率的支出的合理近似值。 19
准备资产用于其预期用途或销售所需的活动不仅仅包括资产的实际建造。它们包括实体施工开始之前的技术和行政工作，例如与实体施工开始之前获得许可相关的活动。然而，此类活动不包括在没有发生改变资产状况的生产或开发时持有资产。例如，借贷成本
借贷成本土地开发期间产生的费用在与开发相关的活动进行期间资本化。然而，在持有用于建筑目的的土地且没有任何相关开发活动的情况下所产生的借款成本不符合资本化条件。暂停资本化20单位应当暂停资本化借贷成本在其暂停积极开发的较长时期内合格资产。 21实体可能会发生借贷成本
在其暂停为准备资产用于其预定用途或销售而进行的必要活动的较长时期内。这些成本是持有部分完工资产的成本，不符合资本化条件。
然而，主体在进行大量技术和管理工作期间通常不会暂停借款费用资本化。当暂时延迟是资产准备用于其预期使用或销售的过程的必要组成部分时，主体也不会暂停借款费用资本化。例如，如果高水位在相关地理区域的施工期间很常见，则资本化在高水位延迟桥梁施工的较长时期内继续进行。停止资本化22实体应停止资本化借贷成本当基本上所有必要的活动准备合格资产其预期用途或销售已完成。 23
当资产的实体建设完成时，资产通常已准备好用于其预期使用或销售，即使日常管理工作仍可能继续进行。如果细微的修改（例如按照购买者或用户的规格装饰房产）均未完成，则表明基本上所有活动都已完成。 24当一个实体完成建造合格资产
分部分进行，且每个部分都能够使用，而其他部分继续施工，则该实体应停止资本化借贷成本
当它基本上完成了准备该零件用于其预期用途或销售的所有必要活动时。 E4 E4[国际财务报告解释委员会®更新，2018 年 9 月，议程决定，“土地借贷成本（国际会计准则第 23 号借贷成本）’
E4[国际财务报告解释委员会®更新，2018 年 9 月，议程决定，“土地借贷成本（国际会计准则第 23 号借贷成本）’
委员会收到了关于实体何时停止将土地借款成本资本化的请求。在请求中描述的事实模式中：实体获取并开发土地，然后在该土地上建造建筑物——该土地代表将建造建筑物的面积； b.土地和建筑物均符合合格资产的定义；和
c.该实体使用一般借款为土地和建筑物建设支出提供资金。该请求询问该实体是否在开始建造建筑物后停止将与土地支出（土地支出）相关的借款费用资本化，或者是否继续将在建造建筑物期间与土地支出相关的借款费用资本化。委员会指出，在应用 IAS 23 来确定何时停止资本化土地支出产生的借款费用时：实体考虑土地的预期用途。土地和建筑物用于业主占用（被视为不动产、厂房和设备，适用
国际会计准则第 16 号财产、厂房和设备）；租金或资本增值（确认为投资性房地产，适用国际会计标准 40投资物业）；或待售（确认为库存申请国际会计准则2库存
国际会计准则第 16 号财产、厂房和设备）；租金或资本增值（确认为投资性房地产，适用国际会计标准 40投资物业）；或待售（确认为库存申请国际会计准则2库存）。土地的预期用途不仅仅是在土地上建造建筑物，而是将其用于这三个目的之一。 b.根据《国际会计准则》第 23 条第 24 段，实体应考虑在建筑物继续施工期间土地是否能够用于其预期用途。如果在建筑物继续施工期间土地无法用于其预期用途，则实体将土地和建筑物一起考虑，以评估何时停止将土地支出的借款成本资本化。在这种情况下，直到为预期用途或销售准备土地和建筑物所需的所有活动基本上完成后，土地才能准备好用于其预期用途或销售。委员会的结论是，《国际财务报告准则》中的原则和要求为实体确定何时停止将土地支出借款成本资本化提供了充分的基础。
因此，委员会决定不将此事项添加到其标准制定议程中。]25一个由多座建筑物组成的商业园区，每座建筑物都可以单独使用，这是一个例子合格资产
每个部分都能够使用，而其他部分的施工仍在继续。在使用任何部件之前需要完成的合格资产的一个示例是涉及多个流程的工业工厂，这些流程在同一地点的工厂的不同部分按顺序执行，例如钢厂。披露26实体应披露： (a)的数量借贷成本期间资本化；和
(二)用于确定符合资本化条件的借款费用金额的资本化率。过渡性规定27当应用本准则构成会计政策变更时，[请参阅：IAS 8 第 14 段]实体应将本标准应用于借贷成本有关于合格资产资本化开始日期[请参阅：第 17 段 – 19 段]在生效日期当天或之后。 [请参阅：结论基础段落 BC15]28
然而，实体可以指定生效日期之前的任何日期并将该准则应用于借贷成本与所有有关合格资产资本化开始日期[请参阅：第 17 段 – 19 段]是在该日期当天或之后。 [
请参阅：结论基础第 BC15 和 BC16 段]28A
借贷成本与所有有关合格资产资本化开始日期[请参阅：第 17 段 – 19 段]是在该日期当天或之后。 [
请参阅：结论基础第 BC15 和 BC16 段]28A 2015 年至 2017 年 IFRS 标准年度改进周期，2017 年 12 月发布，经修订第 14 段。主体应将这些修订应用于该主体首次应用这些修订的年度报告期开始之日或之后发生的借款成本。 [请参阅：结论基础段落 BC18A]生效日期29
实体应在 2009 年 1 月 1 日或之后开始的年度期间应用该标准。允许提前应用。如果实体从 2009 年 1 月 1 日之前开始应用该标准，则应披露这一事实。 29A第 6 段被修改为IFRS 的改进
2008 年 5 月发布。实体应在 2009 年 1 月 1 日或之后开始的年度期间应用该修订。允许提前应用。如果实体较早应用修订，则应披露这一事实。 29B国际财务报告准则第 9 号
于 2014 年 7 月发布，修订第 6 段。实体在应用 IFRS 9. 29C 时应应用该修订国际财务报告准则第 16 号
国际财务报告准则第 9 号于 2014 年 7 月发布，修订第 6 段。实体在应用 IFRS 9. 29C 时应应用该修订国际财务报告准则第 16 号，于 2016 年 1 月发布，修订第 6 段。实体在应用 IFRS 16. 29D 时应应用该修订
2015 年至 2017 年 IFRS 标准年度改进周期，2017 年 12 月发布，经修订第 14 段并添加了第28A段。实体应在 2019 年 1 月 1 日或之后开始的年度报告期间应用这些修订。允许提前应用。如果实体较早应用这些修订，则应披露这一事实。撤销 IAS 23（1993 年修订）30本标准取代国际会计准则第 23 号借贷成本1993年修订。 附录附录对其他公告的修改
本附录中的修订应适用于 2009 年 1 月 1 日或之后开始的年度期间。如果实体在较早的期间应用本标准，则本附录中的修订应适用于该较早的期间。在修改后的段落中，新文本带有下划线，删除的文本带有删除线。 ** ** ** **
2007 年本国际财务报告准则发布时本附录所载的修订已纳入本卷发布的相关国际财务报告准则中。董事会批准
2007 年本国际财务报告准则发布时本附录所载的修订已纳入本卷发布的相关国际财务报告准则中。董事会批准
2007 年 3 月发布的 IAS 23 董事会批准国际会计准则23借贷成本
（2007 年修订）经国际会计准则理事会 14 名成员中的 11 名批准发布。科普、丹茹和加内特先生持不同意见。他们的不同意见列在结论基础之后。
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