PAS 20 - Accounting For Government Grants and Disclosure of Government Assistance
PAS 20 - Accounting For Government Grants and Disclosure of Government Assistance
PAS 20 - Accounting For Government Grants and Disclosure of Government Assistance
Government Assistance
Outlines how to account for government grants and other assistance.
Recognised in profit or loss on a systematic basis over the periods in which the entity
recognises expenses for the related costs for which the grants are intended to compensate,
which in the case of grants related to assets requires setting up the grant as deferred
income or deducting it from the carrying amount of the asset.
Objective
To prescribe the accounting for, and disclosure of, government grants and other forms of
government assistance.
Scope
a. Deferred income, or
Disclosure
Accounting policy adopted for grants, including method of balance sheet presentation
Nature and extent of grants recognised in the financial statements
Unfulfilled conditions and contingencies attaching to recognised grants
Government Assistance
Do not include government assistance whose value cannot be reasonably measured, such
as technical or marketing advice.