CERTYNEX IFRS ACADEMY

The original transition and effective date provisions of the standard (2007 revision) accompanied a substantive change in the treatment of borrowing costs. Which one?

The introduction of an option allowing all the borrowing costs of a qualifying asset to be expensed.

The removal of the option to expense borrowing costs directly attributable to a qualifying asset.

The extension of the scope of the standard to assets measured at fair value.

The creation of a single capitalisation rate for all borrowings, specific and general.