provision, government grant

This topic has 1 reply, 2 voices, and was last updated 6 years ago by Kim Smith.

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May 27, 2019 at 9:01 am #517502
jihun lee
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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 ?
May 27, 2019 at 9:31 am #517511
Kim Smith
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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).
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