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Capitalisation of borrowing costs

In: UK Gaap

Author

Listed:
  • Mike Davies

    (Ernst & Young)

  • Ron Paterson

    (Ernst & Young)

  • Allister Wilson

    (Ernst & Young)

Abstract

The accounting treatment of the costs incurred on borrowings obtained to finance asset acquisitions achieved prominence in the UK through the growth of the large property companies in the 1950s and 1960s. However, as a result of the House of Lords decision in the Chancery Lane case1 in 1966, the accounting treatment of property company development interest was frequently governed by the achievement of a particular tax result, rather than being based on sound accounting principles.

Suggested Citation

  • Mike Davies & Ron Paterson & Allister Wilson, 1992. "Capitalisation of borrowing costs," Palgrave Macmillan Books, in: UK Gaap, edition 0, chapter 0, pages 587-626, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12998-0_10
    DOI: 10.1007/978-1-349-12998-0_10
    as

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