ICAI Guide and FAQ on Indian Accounting Standards 20, Accounting for Government Grants and Disclosure of Government Assistance
Educational Material on Indian Accounting Standards 20
The Ministry of Corporate Affairs (MCA) vide its notification dated 16th February, 2015 notified Ind AS 20, Accounting for Government Grants and Disclosure of Government Assistance which was later amended vide a notification dated 20th November, 2018. The amendment brought in significantly aligned Ind AS 20 with IAS 20
Ind AS 20 is to be applied in accounting for, and in the disclosure of, government grants and in the disclosure of other forms of government assistance.
This Educational Material on Ind AS 20, Accounting for Government Grants and Disclosure of Government Assistance contains guidance by way of Frequently Asked Questions (FAQs) and illustrations explaining the principles enunciated in the Standard. This publication will provide guidance to the stakeholders in accounting and to reporting entities in disclosure of various government grants and government assistance received
For the benefit of the users it also gives the Major differences between Ind AS 20 and AS 12 (Accounting for Government Grants) and IAS 20 ( Accounting for Government Grants and Disclosure of Government Assistance)Â Â
Download ICAI Guide and FAQ on IndAS 20 Click Here >>
- Prima facie satisfaction u/s 148 can not be a non-existing or incorrect information
- Mutual Funds to value physical Gold and Silver by using the polled spot prices
- SC allows simultaneous CIRP proceedings against principal debtor & corporate guarantor
- Merely because sales were declared for only one month, same cannot be treated as bogus
- ITAT deleted addition as method of accounting had been accepted in earlier years
