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Non-current assets
Government grants
2.1 Summary of recognition and measurement
As per IAS 20 Accounting for Government Grants and Disclosure of Government
Assistance:
Recognise when
reasonable assurance
GRANTS conditions will be
complied with and
grant will be received
Revenue Capital
grants grants
Relate to Relate to
operating asset
costs purchases
Match in P/L Match in P/L
with related with related
costs depreciation
Deferred income Netting off
approach approach
Record grant as Deduct grant from
deferred income cost of asset
Further detail can be found in Section 2 of Chapter 5 in your Study Text.
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