TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Understanding AS-12: Government Grants in Financial Statements and Their Treatment as Capital or Income</h1> This accounting standards for government grants under AS-12, detailing how such grants should be treated in financial statements. Government grants, including subsidies and incentives, are recognized when there is reasonable assurance of compliance with conditions and receipt. Two approaches are discussed: the capital approach, treating grants as part of shareholders' funds, and the income approach, recognizing them as income over periods to match related costs. Grants related to specific assets can be deducted from the asset's value or treated as deferred income. Refundable grants are treated as extraordinary items. Disclosure of accounting policies and the nature of grants is required.
TaxTMI 
TaxTMI 
