How to treat the borrowing cost, if the constructed asset complete earlier than the loan repayment period?

IF THE ASSET IS COMPLETED IN TWO YEARS THAN ONLY FOR TWO YEARS BORRWING COST CAN BE INCLUDED IN ASSET ACCOUNT OR YOU SAY BE CAPITALISED BUT ONCE THE ASSETS CONTRUCTION IS COMPLETE THEN WE HAVE TO CHARGE IT IN PROFIT AND LOSS ACCOUNT HENCE FOR THIRD YEAAR IT WILL BE CHARGED TO PROFIT AND LOSS ACCOUNT.

The interest on the finance lease of the constructed asset is capitalised as borrowing costs. Borrowing costs on the finance lease can only be capitalised up to the point when the construction of the qualifying asset is complete.

Hence interest for third year will be P&L element and not capital cost

It should be charged to P&L and can not be capitalized.
  IAS23 determined when capitalizing should commence and whn it should cease.
"Capitalisation should commence when expenditures are being incurred, borrowing costs are being incurred and activities that are necessary to prepare the asset for its intended use or sale are in progress (may include some activities prior to commencement of physical production).
[IAS23.17-18] Capitalisation should be suspended during periods in which active development is interrupted.
[IAS23.20] Capitalisation should cease when substantially all of the activities necessary to prepare the asset for its intended use or sale are complete.
[IAS23.22] If only minor modifications are outstanding, this indicates that substantially all of the activities are complete.
[IAS23.23]" Source IAS Plus website.
Thank you for such question, I gussed the answer but back to the standard to get the supporting :)