원칙중심의 IFRS를 실무적 편의에 따라 적용 가능한가?：차입원가자본화를 중심으로

The purpose of this study is to discuss whether principles－based IFRS can be applicable according to practical convenience like rules－based accounting standards by the capitalization of borrowing costs case. To the extent that an entity borrows funds generally and uses them for the purpose of obtaining a qualifying asset, the entity shall determine the amount of borrowing costs eligible for capitalization by applying a capitalization rate to the expenditures on that asset. Korean intermediate accounting texts explain the expenditures on a qualifying asset to which the capitalization rate is applied can be measured by average carrying amount of the asset. Those texts also explain the capitalization rate shall be the weighted average of the borrowing costs applicable to the borrowings of the entity that are outstanding during an accounting period. The borrowings costs not used to obtain qualifying asset can be capitalized according to those explanation. We explained those accounting treatments did not meet the core principle which borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset, qualitative characteristics of useful financial information, and recognition of assets criteria of the conceptual framework for financial reporting. This study could be of help in understanding and enhancing professional judgements regarding IAS 23 borrowing costs and in understanding, interpreting, and applying the principles－based IFRS.