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Commission Regulation (EC) No 1260/2008Show full title

Commission Regulation (EC) No 1260/2008 of 10 December 2008 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard (IAS) 23 (Text with EEA relevance) (revoked)

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  1. Introductory Text

  2. Article 1.In the Annex to Regulation (EC) No 1126/2008, International Accounting...

  3. Article 2.Each company shall apply IAS 23 (revised 2007), as set...

  4. Article 3.This Regulation shall enter into force on the third day...

  5. Signature

    1. ANNEX

      2. INTERNATIONAL ACCOUNTING STANDARD 23

        1. Borrowing Costs

          1. CORE PRINCIPLE

            1. 1 Borrowing costs that are directly attributable to the acquisition, construction...

          2. SCOPE

            1. 2 An entity shall apply this Standard in accounting for borrowing...

            2. 3 The Standard does not deal with the actual or imputed...

            3. 4 An entity is not required to apply the Standard to...

          3. DEFINITIONS

            1. 5 This Standard uses the following terms with the meanings specified:...

            2. 6 Borrowing costs may include:

            3. 7 Depending on the circumstances, any of the following may be...

          4. RECOGNITION

            1. 8 An entity shall capitalise borrowing costs that are directly attributable...

            2. 9 Borrowing costs that are directly attributable to the acquisition, construction...

        2. Borrowing costs eligible for capitalisation

          1. 10 The borrowing costs that are directly attributable to the acquisition,...

          2. 11 It may be difficult to identify a direct relationship between...

          3. 12 To the extent that an entity borrows funds specifically for...

          4. 13 The financing arrangements for a qualifying asset may result in...

          5. 14 To the extent that an entity borrows funds generally and...

          6. 15 In some circumstances, it is appropriate to include all borrowings...

        3. Excess of the carrying amount of the qualifying asset over...

          1. 16 When the carrying amount or the expected ultimate cost of...

        4. Commencement of capitalisation

          1. 17 An entity shall begin capitalising borrowing costs as part of...

          2. 18 Expenditures on a qualifying asset include only those expenditures that...

          3. 19 The activities necessary to prepare the asset for its intended...

        5. Suspension of capitalisation

          1. 20 An entity shall suspend capitalisation of borrowing costs during extended...

          2. 21 An entity may incur borrowing costs during an extended period...

        6. Cessation of capitalisation

          1. 22 An entity shall cease capitalising borrowing costs when substantially all...

          2. 23 An asset is normally ready for its intended use or...

          3. 24 When an entity completes the construction of a qualifying asset...

          4. 25 A business park comprising several buildings, each of which can...

          5. DISCLOSURE

            1. 26 An entity shall disclose:

          6. TRANSITIONAL PROVISIONS

            1. 27 When application of this Standard constitutes a change in accounting...

            2. 28 However, an entity may designate any date before the effective...

          7. EFFECTIVE DATE

            1. 29 An entity shall apply the Standard for annual periods beginning...

          8. WITHDRAWAL OF IAS 23 (REVISED 1993)

            1. 30 This Standard supersedes IAS 23 Borrowing Costs revised in 1993....

      3. Appendix Amendments to other pronouncements

        1. A1 IFRS 1 First-time Adoption of International Financial Reporting Standards is...

        2. A2 In IAS 1 Presentation of Financial Statements the last sentence...

        3. A3 In IAS 7 Cash Flow Statements paragraph 32 is amended...

        4. A4 In IAS 11 Construction Contracts the last sentence of paragraph...

        5. A5 In IAS 16 Property, Plant and Equipment paragraph 23 is...

        6. A6 In IAS 38 Intangible Assets paragraph 32 is amended as...

        7. A7 In IFRIC Interpretation 1 Changes in Existing Decommissioning, Restoration and...

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