Debate still continues in the United States of America over the inclusion of interest as an element of cost. The practice was accepted as early as 1558 in Germany, and has been integrated into accounting theory by Schmalenbach in this century.
"Use of interest as an element of cost in Germany in the 16th and 17th centuries,"
Accounting Historians Journal: Vol. 13
, Article 5.
Available at: https://egrove.olemiss.edu/aah_journal/vol13/iss1/5