IAS 20 · Workpapers (Step 4 of 5)
Workpaper assignment
- Course
- Exercises
- Case studies
- Workpapers
- Exams
Income grant matching file: costs compensated, period and presentation: Programme grant
Income grant and asset received free of charge: matching to costs and fair value
Section 1 of 9
Objective
Section brief
- What to document
- The engagement, its scope and the working mode chosen.
- Why
- A workpaper answers one precise question: framing it avoids off-topic work.
- How
- Read the objective and the assignment, then choose the mode (guided, semi-guided, professional).
- Expected result
- You know which question the workpaper must settle, and for which reporting date.
- Your role
- Preparer of the IAS 20 workpaper
- Level
- Advanced
- Estimated time
- ≈ 55 min
- Progress
- 0 / 5 steps done (review excluded)
Context
Agrilogis SAS (fictitious entity, food-processing business) closes its books on 31 December 20X5. It obtained three forms of support in 20X5: a programme grant spread over three years, a grant for training costs already incurred, and a warehouse transferred by a municipality for a price below its value.
Assignment
Income grant matching file
Purpose of the workpaper
For each income grant (one instance per grant), describe the agreement, enter the amount and the table of costs compensated by period, choose the period to compute, then assess the reasonable assurance and the costs targeted. The allocation basis (here, the proportion of the costs of the period) is a datum of the file, not a rule of the standard. Then prepare the entry: income or deduction from the related expense.
Questions of the file covered by this workpaper
- Does reasonable assurance exist and which costs does the programme grant compensate? Justify.
- Compute the share of the programme grant for 20X5.
- Record the three forms of support.
Documents in the file
Open the documents to pick out the relevant information.