Government grants
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Last updated 3:47 AM on 8/23/25
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4 Terms
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Government Grant
Transfer of resources in return for past or future compliance
Gross/Income vs Net/Asset
2
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Government Grant Recognition
Compliance
Receivable
Received grant
Liability
can occur prior to compliance as long as there is reasonable assurance it will be met
3
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Government Grant Initial Measurement
IFRS - Nominal or FV
ASPE - FV
4
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Government loans
Same criteria as grants
Record using effective interest method, difference is booked to grant revenue
Dr. Cash
Cr. Loan @ eff. int
Cr. Grant revenue
Note 
Flashcards (99)