Abstract:

Borrowing costs are defined as the total of interest and the other expenses that an entity incurs in connection with borrowing funds. We consider core principal of Borrowing costs Standard 23 stating as; “Borrowing costs are capitalized that are directly attributable to acquisition, construction, and production of a qualifying asset form part of that asset. Other expenses are recognized as an expense.” The primary aim of this study is to explain the accounting for and presentation of borrowing costs in terms of business’ needs. In this context, we examine the concept of borrowing cost ĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊĊ* Afyon Kocatepe Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, [email protected] ** Afyon Kocatepe Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, [email protected] ĔĔĔĊĊAfyonkarahisar Ticaret Meslek Lisesi, Muhasebe Finansman Öğretmeni, (AKÜ, SBE, Yüksek Lisans Öğrencisi), [email protected]Ċin an entity that operates in the sea transportation vehicles manufacturing sector, which produces yachts. In this study, the Turkish Uniform Accounting System, New Turkish Commercial Law, Tax Procedural Law and Turkish Accounting Standards are also considered in the example given in content from the perspective of accounting of borrowing funds

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