accounting for grant received

accounting for grant received

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client co. received grant from public body/institute to fund R&D project expenditure - how should this be accounted for?

I assume if it was not made to fund fixed asset expenditure it should be released to p&l as set off against costs incurred

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By User deleted
11th May 2010 17:30

read the FRSSE

Read the relevant section of the FRSSE

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By nick farrow
11th May 2010 17:51

does the FRSSE guidance which I've read

 only refer to Government grants

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By User deleted
11th May 2010 22:20

Definition of Government

Doesn't the definition of "Government" not include "public bodies"?  Even if it doesn't, might it not still be the best guidance?

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By nick farrow
12th May 2010 09:58

I think I agree

As the grant was not made to fund acquisition of capital equipment I'm going to release it to P&L and disclose it under other operating income

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