Common use of BORROWING COSTS Clause in Contracts

BORROWING COSTS. Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to revenue.

BORROWING COSTS. Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. All other borrowing costs are charged to revenueProfit and Loss account.