• Register
Search Questions / Answers

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login in few seconds

Get AccountantAnswer App

what should include finance charges?


What should include finance charges? can I classify bank charges on new cheque books as finance charges?

asked Jun 27, 2015 in IAS 1 - Presentation of Financial Statements by anonymous

1 Answer

0 votes
Finance charges generally mean the cost of financing. That means interest or similar costs of long term or short term financing. Eg. Loan interests, overdraft interest, etc. The bank charges like cheque book charges, fund transfer charges, etc. should typically be classified under administration expenses.
answered Jun 27, 2015 by Visio Level 5 Member (24,620 points)


...