Amortizing Loan Costs

When a business acquires a loan there are typically closing costs involved. generally Accepted Accounting Principles (GAAP) require these financing costs to be amortized (allocated) over the life of the loan. There are several principles the reader needs to understand to properly calculate and assign these costs to the financial statements.

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Pamela, sorry to disagree with you, but loan costs incurred to borrow money must be amortized over the term of the loan. Internal Revenue Code Sec. 263 (a) requires that an expenditure incurred to acquire a property right (in this case, the right to use money) must be capitalized.

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Amortized cost at 31 December 2016 would be $1,939,112. This would continue until after the last interest payment, the amortized cost of bonds will be equal to the maturity value i.e. $2,000,000. The following amortization table summarises the application.

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Amortized Loan: An amortized loan is a loan with scheduled periodic payments that consist of both principal and interest. An amortized loan payment pays the relevant interest expense for the.

Getting a Handle on Loan Fees Financial institutions-from community banks and credit unions to home-financing giant Fannie Mae-have had to restate their financial results, in part because of faulty accounting for loan origination fees.

On larger loans these fees can be materially significant. In these cases, the origination fees associated with the loan can be capitalized and amortized over the life of the loan. These costs cannot be capitalized as part of the cost basis for any related assets, but they can be spread out over several months as an expense.

 · In the case of the bank in the particular example they use, the fees were deductible as a period expense for tax purposes (as opposed to being amortized, which is the requirement for GAAP) because the bank’s loan marketing activities were a core activity of its day-to-day business.