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Good Morning Sir,
1. I would like to ask in general what are the primary and secondary conditions for the businesses to apply for government grants?
2. How does the deduct from PPE method for government grants will impact on the financial statements? can show me the double entries? because the lecture video is only teaching about the deferred income approach.
3. Is that means during the exam we have the right to choose whether we want to use deferred income method or deduction from asset method can also be accepted provided that the exam does not specifically require which method to use?
Thanks
Hi,
1. I’m not too sure what you mean by primary and secondary conditions, as it isn’t mentioned in the standard.
2. If you have a go at the double entries, then I will tell you if you’re correct or not.
3. You will likely be using the deferred income approach in the exam.
Thanks
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