Grat money recd.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2012
Dear Sirs
A event management co.received money as grant from government Department. for a workshop releted agriculture. so I want to know that it,s our income or not? if it is not fixed assets. what entry wil pass of it ? and whitch head ?
Thaks & Regards
Rajendra
A event management co.received money as grant from government Department. for a workshop releted agriculture. so I want to know that it,s our income or not? if it is not fixed assets. what entry wil pass of it ? and whitch head ?
Thaks & Regards
Rajendra
Amey Satish Gogate
(Expert)
28 December 2012
Grants related to assets are government grants whose primary condition
is that an entity qualifying for them should purchase, construct or
otherwise acquire long-term assets. Subsidiary conditions may also be
attached restricting the type or location of the assets or the periods
during which they are to be acquired or held.
Grants related to income are government grants other than those related
to assets.
is that an entity qualifying for them should purchase, construct or
otherwise acquire long-term assets. Subsidiary conditions may also be
attached restricting the type or location of the assets or the periods
during which they are to be acquired or held.
Grants related to income are government grants other than those related
to assets.
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