Accounting for grant
This query is : Resolved
05 March 2014
Where should be a grant received for a specific project(and not for a asset) be shown?
05 March 2014
project means specify exactly wat if not asset?
05 March 2014
then as per as 12 can treat it as defrred income and proptionate to life of project take it as income.
05 March 2014
Can we transfer it to Current Liabilities and debit all the expense to the same account?
05 March 2014
no refer AS 12 -Goverment grants
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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