Status of Statement No. 62

Capitalization of Interest Cost in Situations Involving Certain Tax-Exempt Borrowings and Certain Gifts and Grants—an amendment of FASB Statement No. 34


June 1982

Effective Date:
For tax-exempt borrowing arrangements entered into and gifts or grants received after August 31, 1982

Amends FAS 34, paragraphs 10, 13, and 17
Supersedes FTB 81-5

Affected by:
No other pronouncements

AICPA Accounting Standards Executive Committee (AcSEC)

Related Pronouncement:
SOP 97-1

Abbreviations for Accounting Pronouncements
FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides