thank you for the explanation now am able to understand government grants.....i think you should have done an example so that we can get a clear picture on how to tackle the questions
it was helpful indeed. can i know how to treat the repayment of govt grant. and despite everything, if the noise from the board when writing is not made, it would be perfect.
In the first place repayment of government grant should be treated as a change in accounting estimate. In the case of grant related to income any amount of repayment should be expensed. Where the original grant related to an asset, the repayment should be treated as increasing the carrying amount of the asset or reducing the deferred income balance. Any difference on the deferred income account after the repayment should be written off to the income statements Any cumulative under depreciation which occurred as a result of the grant should be written off as an expense
I really wan to watch your videos. They look very detailed but that annoying sound your marker makes on the board makes me sick, is there something you can do about it please for my sake. Thank you Isaac
thnx for ur explanation now I understand government grants
This is well explained! Thanks Isaac!
Wow! well explained. Thank you
I love your lectures! God bless u Isaac
thank you your video has helped me all the way this side of the world
+walter hollenbach Good to know. Send in your questions if you have any
your videos have really been helpful. thank you.
+Fati abubakar siddique Good to know. I really appreciate your comments
thank you for the explanation now am able to understand government grants.....i think you should have done an example so that we can get a clear picture on how to tackle the questions
Sure, I am working on the part 2 of government grant which will address how to answer questions on government grant. Thank
thanks very much... pls can you treat the other standards? ias 40and 36
well explained
thanks :) very helpful video
it was helpful indeed. can i know how to treat the repayment of govt grant. and despite everything, if the noise from the board when writing is not made, it would be perfect.
In the first place repayment of government grant should be treated as a change in accounting estimate.
In the case of grant related to income any amount of repayment should be expensed.
Where the original grant related to an asset, the repayment should be treated as increasing the carrying amount of the asset or reducing the deferred income balance. Any difference on
the deferred income account after the repayment should be written off to the income statements
Any cumulative under depreciation which occurred as a result of the grant should be written off as an expense
I really wan to watch your videos. They look very detailed but that annoying sound your marker makes on the board makes me sick, is there something you can do about it please for my sake.
Thank you Isaac
Sure will work on it. Thanks for the feedback