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of <h1>Ind AS 23: Capitalize Borrowing Costs for Qualifying Assets; Expense Others; Disclose Costs and Capitalization Rate.</h1> Indian Accounting Standard (Ind AS) 23 focuses on the treatment of borrowing costs. It mandates that borrowing costs directly attributable to the acquisition, construction, or production of a qualifying asset should be capitalized as part of the asset's cost, while other borrowing costs should be expensed. The standard defines qualifying assets as those that take a substantial period to be ready for use or sale. It provides guidance on capitalizing borrowing costs, determining the amount eligible for capitalization, and the commencement, suspension, and cessation of capitalization. Entities must disclose capitalized borrowing costs and the applicable capitalization rate.
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