IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
International Accounting Standard 20
Overview of IAS 20
- Issued: in 1983, followed by amendments
- Effective date: 1 January 1984
- What it does:
- It defines government grants, government assistance, government, grant related to assets, grants related to income and forgivable loans.
- It states conditions for recognition of grants and measurement of non-monetary government grants.
- It outlines presentation rules for:
- Grants related to assets;
- Grants related to income.
- It describes how to deal with repayments of government grants.
- It sets the disclosures in respect of government grants and assistance.
Articles about IAS 20
- Summary of IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
- How to Account for Free Assets Received under IFRS - if you ever received free assets as a gift or in some other transaction, here's the guidance on how to account for them.
- Tax incentives - IAS 12 or IAS 20? - this is more specific read for those of you who are receiving the governmental support in form of various tax reliefs, tax holidays, tax credits, etc. You will learn which of them are accounted for under IAS 12 and under IAS 20.
Questions and Answers
- How to match a government grant with costs for which the grant compensates? - few considerations and hints on how to develop the most suitable method of accounting for your grant
Other Resources
- IFRS Kit - learn IFRS in 150+ videos, 150+ excel case studies, quizzes, certificates
- Expected Credit Loss for Accountants - highly specialized course focused on ECL under IFRS 9 with step-by-step example related to trade receivables, many practical insights included.
