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Accounting for grant

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(Querist)
05 March 2014 Where should be a grant received for a specific project(and not for a asset) be shown?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
05 March 2014 project means specify exactly wat if not asset?
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parth

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parth (Querist)
05 March 2014 lets Suppose a workshop
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
05 March 2014 then as per as 12 can treat it as defrred income and proptionate to life of project take it as income.
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parth

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parth (Querist)
05 March 2014 Can we transfer it to Current Liabilities and debit all the expense to the same account?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
05 March 2014 no refer AS 12 -Goverment grants
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parth

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parth (Querist)
05 March 2014 Why not sir, pls elaborate
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
05 March 2014 i have given u the reason that refer as 12 the treatment is given there what u wrote is not allowed...
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