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Accountng for grants

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Hi 

If a company received Grant from another company (not a Govt, grant) for purchase of a specific fixed asset 

how the accounting should be done 

Replies (3)

please read

AS 12. Accounting Treatment of Government Grants

please read the attached file for non govt funding / grants

So, according to this non govt. grant received towards specific fixed asset can be taken as income during the FY correct ??


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