- 4 Marks
FR – NOV 2016 – L2 – Q5a – Accounting for Government Grants (IAS 20)
Question tests understanding of different types of government grants as defined in IAS 20, specifically grants related to assets and income.
Question
In many Countries of the world, Government provides financial assistance to industry in the form of grants. In accordance with IAS 20 – Accounting for Government Grants and Disclosure of Government Assistance. Explain the term:
i. Grant related to Assets (2 Marks)
ii. Grant related to Income (2 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Asset-related Grants, Government Grants, IAS 20, Income-related Grants
- Level: Level 2
- Topic: Accounting for Government Grants
- Series: NOV 2016
Report an error