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

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... for Government Grants Ind AS 20 Accounting for Government Grants and Disclosure of Government Assistance Government assistance 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 governmen .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... necessarily a conclusive evidence that conditions attaching to the grant have been or will be fulfilled. Similar to Indian GAAP. Refund of grant The amount refundable in respect of a Government grant related to a fixed asset or assets shall be recorded by increasing the actual cost or written down value of block of assets by the amount refundabl .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Refund of grant other than those relating to fixed assets The amount refundable in respect of other government grants should be applied first against any unamortised deferred credit remaining in respect of the Government grant. To the extent that the amount refundable exceeds any such deferred credit, or where no deferred credit exists, the amount should be charged to profit an .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ant. To the extent that the repayment exceeds any such deferred credit, or when no deferred credit exists, the repayment shall be recognised immediately in profit or loss. Repayment of a grant related to an asset (other than a fixed asset) shall be recognised by reducing the deferred income balance by the amount repayable. - Manuals - Ready reckoner - Law and practic .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X