IAS 23 on Exposure Draft

[rememberence]

The exposure draft of proposed amendments to IAS 23 has been published by the IASB as part of its Short Term Convergance Project.

The main change is to eliminate the benchmark treatment of expensing out the borrowing cost. Now and onwards borrowing cost eligible for capitalization under the revised version shall be capitalized.

New version is yet open for comments and the last date is 29 September, 2006.

[insaan]

is this exposure draft implementable in autumn attempt
and wht abt IFRIC on IAS 17 Lease,is dat implementable 2 ,infact i hav heard dat ICAP has asked
SECP to defer implentation of this IFRIC for da time being

[Abdur.Rehman]

Exposure draft means that the IASB drafts a standard and ask the accountants from all over the world to comment on that and a final date is set for closing of exposure draft after which no comments are received. and then after receiving comments the draft is finalized and implemented.
So, dont worry for Autumn attempt, it will not be approved till then.