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


Issued: 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