Cost incurred for taking loan

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Ramesh (Querist)
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07 November 2012 Dear All,

Please advise whether following note is correct :

As the full loan was taken at a time, the cost incurred to take (e.g. processing fees)loan, as per Indian GAAP, the full amount charged to P&L. As per IFRS, the charges should be amortised over a period of term of loan.
Thanking you in advance.
Ramesh

Aditya Maheshwari

Aditya Maheshwari (Expert)
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07 November 2012 the cost incurred to take (e.g. processing fees)loan, as per Indian GAAP, the full amount charged to P&L as still IFRS has not been implemented.