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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › provision, government grant
hi if the company which has received the government grant, and if the conditions are not satisfied in the process (after they received and when company recognize the government grant as revenue over the period as per government grant agreement), then those portion that have not satisfied must be recognized as provision ?
It doesn’t really matter what the liability is called – provision or “other payable” – as long as it’s correctly classified (current/non-current) and adequately disclosed (if material).