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Accounting of interest subsidy from state government

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(Querist)
21 December 2013 When should the INTEREST SUBSIDY received from state government recognized in the books of accounts? whether on accrual or receipt basis?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 December 2013 the accounting shall be based on normal practice of the entity.

However, recognition should be based on AS 12 Para 6.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 December 2013 I hope other experts opine if there is a disagreement on above.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
21 December 2013 yes AS 12 needs to complied in this case.
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