Accounting standards
This query is : Resolved
19 October 2013
Is it allowable to treat Grant received in the nature of Promoter's contribution(promoter being government) as a borrowing in the books of accounts in order to classify the entity as a Level 1 enterprise ?
20 October 2013
As per AS-12, The Grant received from Government as capital(Promoter contribution) need to show under shareholders funds, not to treat as Borrowing, since it is not returnable
21 October 2013
But the grant is refundable as it doesn't fulfill the conditions....in that case can it be treated as a borrowing??
21 October 2013
Incase returnable it is not nature of Grant. It is not fulfil the condition of grant. it is nature of loan
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22 October 2013
Thanks a lot sir .
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