RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of June 26, 2013 No. 398

About approval of the National accounting standard 23 "Capitalization of borrowing costs" (NSFO 23)

Based on the paragraph of the thirty fifth of Article 26 and part one of article 39 of the Bank code of the Republic of Belarus the Board of National Bank of the Republic of Belarus DECIDES:

1. Approve the enclosed National accounting standard 23 "Capitalization of borrowing costs" (NSFO 23).

2. This resolution becomes effective since January 1, 2014 and is applied in case of creation of the financial reporting for 2014 and the next years, except for creation of the financial reporting regarding comparative information for 2013.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of June 26, 2013, No. 398

National accounting standard 23 "Capitalization of borrowing costs" (NSFO 23)

Chapter 1. General provisions

1. This Standard is developed according to the International accounting standard 23 "Borrowing costs" approved by Council for international accounting standards.

This Standard is applied to the borrowing costs arising since January 1, 2014.

2. The requirements established by this Standard are obligatory for execution by banks and non-bank credit and financial organizations of the Republic of Belarus (further - banks).

3. The purpose of this Standard consists in determination of procedure of payments and the principles of recognition in financial accounting of the borrowing costs which are subject to capitalization, and also disclosures of information on them in the financial reporting of banks.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info