FASB ASC 835 - Interest


The Financial Accounting Standards Board (FASB) released the 800 section of the Accounting Standards Codification for the purpose of discussing broad topics. Accounting Standards Codification 835 (ASC 835) was released to address the more specific topic of interest. This covers many aspects of this including how it is calculated, imputing it in notes receivable/payable, and those instances in which interest can be capitalized.

Interest is a very common item utilized in banking, leasing, and construction. We also have more information, if you are not familiar with the concept of capitalized interest.

Check out more high level explanations of the FASB ASC in our Guide to the Accounting Standards Codification!

For more in depth information on this and other FASB ASC topics, check out the following books.

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