Describe the difference between GAAP and IFRS in accounting for bond issue costs.

twylla01

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5 years ago

Describe the difference between GAAP and IFRS in accounting for bond issue costs.

Textbook

Intermediate Accounting

Edition: 1^st

Authors: Gordon, Raedy, Sannella

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iris

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5 years ago

GAAP requires capitalization and straight-line amortization of the Unamortized Bond Issue Cost over the number of months or periods of the bond issue. IFRS treats the bond issue costs as a cost of borrowing and increases the effective interest rate of the bond issue to account for the bond issue costs.

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