Government Grant - assistance by government in the form of transfer of resources to an entity in return for part or future compliance with certain conditions relating to the operating activities of the entity.
Recognition:
Entity will comply with the conditions
Grant will be received
*Not recognized on cash basis
*The grant is taken to income over one or more periods in which the related cost is incurred
Government assistance - specific to an entity; no value can be placed upon
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Accounting
RandomThis book is filled with accounting lessons specially crafted for accounting students and aspiring accountants. Dive into the world of numbers and financial know-how as I guide you through essential concepts and practical insights. Whether you're ju...
