Cal. Code Regs. tit. 2 § 1071.7
Current through Register 2024 Notice Reg. No. 41, October 11, 2024
Interest during the construction period on money borrowed to finance the construction shall be capitalized. However, should circumstances in an individual case justify a different recognition, this departure must be footnoted on the balance sheet. No recognition shall be given to imputed interest.
Income from use of the facility during its construction period is accounted as a decrease in the cost of construction.
Cal. Code Regs. Tit. 2, § 1071.7