Skip to main content
IFRS Academy

CERTYNEX IFRS ACADEMY

Search the Academy

Home
My learning path
Exercises & quizzes
Cases
Workpapers
Exams
My progress

Journal entryAdvancedVariant — group VG.IAS38.000307Published

Question · Acquisition by way of a government grant

The State grants Ventoria free of charge, by way of a government grant, a licence to operate a network of charging stations on motorways. The fair value of the licence is 750,000. Ventoria chooses to recognise the asset and the grant at fair value; under its accounting policy, the grant is presented as deferred income. Record the entry on the award.

Fair value of the licence
750,000
Your answer
  1. Line 1

    Account Intangible assets — operating licence

  2. Line 2

    Account Deferred income — government grant

← Back to the concept