AS-12: SUMMARY CHART 25
Government Grant Assistance Government
by
:
-
- receivable in cash/ kind .
3 Bank all Du .
.
3 DGG all Dr. (extent of balance)
>
- for past or future compliance with certain conditions. To DGG,
all POL als Br.
(This can be done
only if there To. Bank/Grant Payable
are some associated in proportion
3 not coveredto
Assistance reduction in costs
*
by government :- to which DGG can be written off
which cannot have value placed it to PCLalc )
upon
.
Reasonable Related Promoters Contribution
Recognition of Government Grant :- assurance : - .
3 to
10 compliance with conditions attached to
grant
. AND Initial Recognition Refund of Grant
.
2 Grant will be received-
Bank/Grant Receivable Dr . Capital Reserve all Dr .
Mere receipt of is not sufficient evidence that conditions attached to To Capital Reserve all P& L DV
*
grant
.
the
grant will be
complied, fulfilled. To , Bank/Guant payable
ee
such moneyreceivedwill befirsttreated a LiabilityAdvancereceiva
of conditions attached- 0
4 Grant related to Revenue
Type of Government Grant :- Initial Recognition Refund of Grant
1
Monetary Grant- 1 .
Bank/Grant receivable Dr . 10 POL all Dr .
.
2 Non-monetary Grant. To, P& L all To , Bank/Grant payable
various
types
of
Monetary Grants :
- .
2 Bank/Guant receivable Dr . 2 . DGG (extent of balance) Dr.
To .
DGG all POL Du .
Related proportion this
Bank/Grant
1 to
Depreciable F A (Related costs - to To
Payable
. .
write off to POLall)
Initial Recognition Refund of Grant
a .
Bank all Dr .
/ Grant Receivable all Dr .
a fixed Asset all Dr. .
5 Grant related to revenue : -
No associated present / future costs
To fixed Asset to Bank all/Grant refund
,
all .
payable al
Related costs to the have been incurred in the past.
A
grant already
b . Bank all / Receivable
Dr . Grant all Do .
b . DGG (extent of balance) Dr.
To Deferred Government Grant all
.
POL DU .
Initial
Recognition Refund of Grant
(
be written off to POL in proportion Baul/Grant refund payable
I
DGG will To,
al
to depreciation : ·
DGG all Dr. 1 .
Bank/Grant Receivable Dr . 10 PCL all DU .
To P2L all Bank/Grant
, To ,
P2 L all To .
Payable al
2 .
Related to Non-Depreciable Fixed Assets
Initial
Recognition Refund of Grant
1 Bank als Dr. 1 :
Fixed Assets DV .
To ,
Fixed Asset als To, Bank/Grant Payable
.
2 Bank all Du .
.
2 Capital Reserve Dr . (extent of balance)
P2L Du
To. Capital Reserve all
.
To , Baule/Grant al
Various types of Non-monetary Grants 151
Asset is concessional
1:
given at a rate
Refund of Grant
Initial
Recognition
Fixed Asset all Dr . If the asset is to be returned
To Bank
,
all
[Concessional Rate] 1 . Bank als Dr . (Ant from govt)
POL all Dr. .
(difference (
To fixed Anet)
,
asset
(Carrying
If the concession amount is to be repaid
.yedAsset pay [ concession a
2
rant
an
Asset free of cost
2 .
is given
Initial
Recognition Refund of Grant
fixed
. ) Token) returned a
Asset Dr. If the asset is to be
To Bank
,
(Token amount]
POL
To fixed
,
asser
If the concession amount is to be repaid
J
Fixed
Bank/Girant payable [Amount
Asset Dr. to be
To .
refunded
