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Explain two requirements that should be met for government grants to be recognized in the financial statements in the context of International Accounting Standard (IAS)...

      

Explain two requirements that should be met for government grants to be recognized in the financial statements in the context of International Accounting Standard (IAS) 20.

  

Answers


Wilfred
i. There should be reasonable assurance that an entity will comply with the conditions attaching to the government grants.
ii. There is reasonable assurance that the government grant shall be received by the entity.
Wilfykil answered the question on February 13, 2019 at 05:27


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