PAS 20 - AccountingforGovernment GrantsandDisclosureof...

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Accounting for Government  Grants and Disclosure of  Government Assistance PAS 20 cdm, cgs-cluster5
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Accounting for Government Grants  and Disclosure of Government  Assistance PAS 20 is : FYI only cdm, cgs-cluster5
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PAS 20 applies in: accounting and disclosure of government grants; and disclosure of other government assistance . cdm, cgs-cluster5
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Government assistance Action by government designed to provide an economic benefit specific to an entity or range of entities qualifying under certain criteria Does not include benefits provided indirectly through action affecting general trading conditions cdm, cgs-cluster5
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Government Assistance Government Assistance Government Grants Other Government Assistance Related to Assets Related to Income Directly Provided Benefits Indirectly Provided Benefits
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Government Grants Assistance by government in the form of transfers of resources to an entity in return for past or future compliance with certain conditions relating to the operating activities of the entity. SIC 10, “… even if there are no conditions specifically relating to the operating activities of the entity other than. . to operate in certain regions or industry sectors.” Exclude government assistance which cannot be reasonably have a value placed and which cannot be distinguished from the normal trading transactions of the entity cdm, cgs-cluster5
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Grants related to assets Primary condition is that an entity should purchase, construct or otherwise acquire long-term assets. Subsidiary conditions may so be attached restricting the type or location of the assets or the period during which they are to be acquired or held. cdm, cgs-cluster5
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Grants related to income Government grants other than those related to assets cdm, cgs-cluster5
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Only if there is reasonable assurance that: the entity will comply with the conditions attached to the grant, and the grants will be received. Receipt of a grant does not of itself provide
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PAS 20 - AccountingforGovernment GrantsandDisclosureof...

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