IFRS for SMEs / Section 24: Government Grants

Section 24: Government Grants

Section 24 recognises a grant in income when its performance conditions are met, and as a liability until then.

Disclosures to look for

24.6 The nature and amounts of grants recognised and any unfulfilled conditions.

How Sight applies it

Receipts from grant bodies are suggested as other income with the recognition condition noted.

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