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Ind AS 20 Govt Grants - Illustration 6
Financial Reporting
1) In this question the difference of 50000 will be treated as what.?. 2) Also i have a doubt whether the grant should be recorded at same value the land is recognised? 3) Also in alternative method, the entry will be what?
Answers (5)
Also , for grant relating to revenue in respect of future expenses.... first we will recognise the grant in Deffered Income A/c and tranfer to P&L over the period of expense ratio? .... and in presentation part is question intends to show how these deffered income will be shown in P&L ie. Can be shown as grant income or can be deducted from the related expense? Am i right. I just confused. Is there another way to recognise revenue grant relating to future expense?
