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Govt Grants

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Govt Grants

  • This topic has 3 replies, 2 voices, and was last updated 10 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • April 25, 2015 at 2:45 pm #242661
    mansoor
    Participant
    • Topics: 424
    • Replies: 542
    • ☆☆☆☆

    Revenue grants: these can be presented as a credit in the sopl.

    what wd be the double entry for this?

    i am assuming that when u get the grant, you will

    Dr Bank
    Cr Deferred Income

    but then how is the credit made to the sopl?

    thanks

    April 25, 2015 at 5:50 pm #242675
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23331
    • ☆☆☆☆☆

    Could it be something like:

    Dr Deferred Income

    Cr Profit or Loss

    ???

    April 25, 2015 at 8:06 pm #242710
    mansoor
    Participant
    • Topics: 424
    • Replies: 542
    • ☆☆☆☆

    oh… thanks

    April 25, 2015 at 8:17 pm #242713
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23331
    • ☆☆☆☆☆

    You’re welcome

  • Author
    Posts
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