On 1 October 2016, the Government of Tanzania awarded Sea Fishing Ltd one of six licenses issued to operate a production facility for five years. A subsidized sum of TZS 1 m was paid by Sea Fishing Ltd for the license. The Government of Tanzania considers the difference between the nominal value and its fair value which is TZS 3,000,000 as a grant to Sea Fishing Ltd.
Explain the TWO ways that the Directors of Sea Fishing Ltd can account for this transaction. (Apply the relevant accounting standards).