Last Updated on 08/02/2020 by 75385885
IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
1 As part of Improvements to IFRSs issued in May 2008 the Board amended terminology used in this Standard to be consistent with other IFRSs as follows: (a) ‘taxable income’ was amended to ‘taxable profit or tax loss’, (b) ‘recognised as income/expense’ was amended to ‘recognised in profit or loss’, (c) ‘credited directly to shareholders’ interests/equity’ was amended to ‘recognised outside profit or loss’, and (d) ‘revision to an accounting estimate’ was amended to ‘change in accounting estimate’.
2 This Standard does not deal with:
- the special problems arising in accounting for government grants in financial statements reflecting the effects of changing