IAS 20

Requirement of IAS 20 with respect to government grant to aid capital expenditure

Requirement of IAS 20 with respect to government grant to aid capital expenditure.

Grants in respect to capital expenditure are to be recognized within income as related assets are expensed to income. This normally happen through depreciation or sale.
On receipt of capital grant, there are two options open to an entity under IAS 20 accounting for government grants and disclosure of government assistance.
First, the grant may be credited to the asset … Read the rest

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2020 Updated list of International Accounting Standards (IAS)

The following are the list of updated international accounting standards (IAS) in 2020:

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