IAS 20Chapter 1Lesson 1
IAS 20: purpose, scope and definitions
Step 1 of 6Learning objectives
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IAS 20 deals with government grants and other government assistance; this first lesson places the standard, its exclusions and the basic vocabulary.
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Learning objectives
- Explain the purpose of IAS 20.
- Identify a government grant and distinguish it from government assistance or a forgivable loan.
- Recognise the assistance excluded from the scope of the standard.