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Standards
Summary of Statement No. 42
Determining Materiality for Capitalization of Interest Cost--an amendment of FASB Statement No. 34 (Issued 11/80)
Summary
This Statement amends FASB Statement No. 34, Capitalization of
Interest Cost, (1) to delete language that some believe allows
capitalization of interest to be avoided under certain
circumstances and (2) to make clear that Statement 34 does not
establish new tests of materiality.
Additional Details