BPP Black Friday sale!

40% discount on all BPP books specially for OpenTuition students!
Get it here >>

IAS 20

This topic has 3 replies, 2 voices, and was last updated 8 years ago by P2-D2.

Viewing 4 posts - 1 through 4 (of 4 total)

Author
Posts
October 27, 2016 at 4:52 pm #346314
Ehsan
Participant
- Topics: 43
- Replies: 420
Dear Chris,
Do we recognise government grant when we have fulfilled the condition or when we believe that we will fulfill it?
Regards
October 30, 2016 at 8:09 am #346620
P2-D2
Keymaster
- Topics: 4
- Replies: 7065
Hi Ehsan,
The two things would usually occur at the same time. If we believe that we have fulfilled the conditions then that is when we have fulfilled them too.
Thanks
October 30, 2016 at 1:01 pm #346663
Ehsan
Participant
- Topics: 43
- Replies: 420
Ahan, for example, if the government is willing to provide a grant if we open our branch in a particular site. So, if we believe that we will open the site in foreseeable future, would we recognize it?
October 30, 2016 at 9:27 pm #346753
P2-D2
Keymaster
- Topics: 4
- Replies: 7065
No, we will need to have opened the site if that is one of the criteria.
Author
Posts

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.