C4 IAS20 Gov Grant Flashcards
1
Q
Recognition
A
Not recognized until there is a reasonable assurance that the conditions will be compiled with and the grant will be received.
Recognized in PL
Either presented as deferred income or by deducting the grant in calculating the carrying amount of the asset.
Either be shown separately or as part of other income or alternatively deducted from the related expense.
Grant becomes repayable is accounted for as a change in acc estimate in accordance with IAS acc policies, changes in acc estimate and errors
