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According to IAS 20, a government grant is recognised in the financial statements if:
1. it is reasonably certain that the entity will meet the condition attached to the grant and
2. It is reasonably certain that the grant will be received.If initially the entity recognised a grant upon fulfilling the above-mentioned criteria, what if subsequently it determines that the condition attached to the grant cant be met afterwards?
What’s the accounting treatment for the recognised grant in this case?Thank you in advance!
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