Government grants (Deferred)
The project has been deferred since February 2006. The Board will continue to monitor progress in other related projects to determine the appropriate timing for activating work on the project.
IAS 20 Accounting for Government Grants and Disclosure of Government Assistance provides guidance on recognising, measuring and disclosing government grants and disclosing other forms of government assistance.
The Board’s objectives in this project are to update IAS 20 to improve the information provided to users of financial statements by:
- eliminating inconsistencies with the Framework, in particular the recognition of a deferred credit when the entity has no liability; and
- eliminating options that can reduce the comparability of financial statements and understate the assets controlled by an entity.
The Board decided to defer work on the project until further progress is made in related projects (such as to IAS 37 and revenue recognition).
Last IASB meeting update
12 December 2007
The Board discussed the accounting for government grants in the context of a proposal to activate work on its Emissions Trading Schemes project.
Click here to view the full update and to access all previous IASB updates on this project.
Page last updated: 8 July 2010