Nature and extent of assistance

Learning objectives

• Prepare the disclosure of the nature and extent of the grants and other assistance recognised.L2, L3
• Justify and defend in a professional file (L4) the treatment adopted for the "Disclosure of nature and extent of grants and assistance" concept, distinguishing the IFRS requirement, the case data, the teaching assumption and judgement.L4

Normative references

• IAS 20 §39Disclosures: accounting policy and methods of presentation; the nature and extent of grants and other assistance recognised; unfulfilled conditions and other contingencies.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

2 questions

• Which of these disclosures does IAS 20 expect about grants and other government assistance? (More than one answer possible.)L2
• To prepare the disclosure on the extent of its asset grants presented as deferred income, Fabre has the year's data: opening deferred income {opening_balance}, grants recognised {grants_received}, releases to profit or loss {releases}, repayments set against deferred income {repayments}. Calculate closing deferred income and the amount of grants released to profit or loss for the year.L3