finance cost comes under which accounting concept ?
Answers
Answer:
What is finance costs in accounting?
Accounting Print Email. International Accounting Standard 23 defines finance costs as “interest and other costs that an entity incurs in connection with the borrowing of funds”. Finance costs are also known as “financing costs” and “borrowing costs”.
Explanation:
What is financial accounting concept?
Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.
Answer:
Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.
Explanation: