Comparison Chart of ICDS-VII, AS-12 & IndAS-20

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..... tance Similar to Indian GAAP Does not deal with disclosure of government assistance other than in the form of government grants. Deals with both government grants and disclosure of government assistance. General Recognition Principle Government grants should not be recognised until there is reasonable assurance that (i) the entity shall comply with the conditions attached to them, and (ii) .....

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..... n value of block of assets by the amount refundable. Where the actual cost of the asset is increased, depreciation on the revised actual cost or written down value shall be provided prospectively at the prescribed rate. The amount refundable in respect of a government grant related to a specific fixed asset is recorded by increasing the book value of the asset or by reducing the capital reserve o .....

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..... amount refundable in respect of a government grant related to revenue is applied first against any unamortised deferred credit remaining in respect of the grant. To the extent that the amount refundable exceeds any such deferred credit, or where no deferred credit exists, the amount is charged immediately to profit and loss statement. Where a grant which is in the nature of promoters' contributi .....

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