Define Govt. grants. What types of approaches are followed to record grants and how? How do these approaches differ to each other?

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An asset purchased of $20,0. Govt. provided subsidy up to60% of the purchasing cost. Asset life is10 years. Required: Treatment under different approaches of recording grants.

Financials Internal Audit Management

Question ajoutée par Muhammad Faheem , Consultant- Accounts, Audit & Taxation , Basim Associates
Date de publication: 2013/11/26

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Dear Muhammad Faheem

Members usually do not have time for detailed answers. So better to ask short questions. You will witness that members will seldom answer computational questions.

I am answering this only because it will have cost you10 participation points to invite me.

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