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International Accounting Standard 20

International Accounting Standard 20

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Published by maeconomics
International Accounting Standards
International Accounting Standards

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Published by: maeconomics on Jan 23, 2010
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06/29/2014

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IAS 20
 © 
IASCF1347
International Accounting Standard 20
 Accounting for Government Grants andDisclosure of Government Assistance
This version includes amendments resulting from IFRSs issued up to 31 December 2008.
IAS 20
 Accounting for Government Grants and Disclosure of Government Assistance
was issued by theInternational Accounting Standards Committee in April 1983, and reformatted in 1994.Limited amendments to IAS 20 were made by IAS 10 (issued May 1999) and IAS 41 (issued January 2001).In April 2001 the International Accounting Standards Board resolved that all Standardsand Interpretations issued under previous Constitutions continued to be applicable unlessand until they were amended or withdrawn.Since then IAS 20 has been amended by the following IFRSs:IAS 8
 Accounting Policies, Changes in Accounting Estimates and Errors
(issued December 2003)IAS 1
 Presentation of Financial Statements
(as revised in September 2007)
*
 Improvements to IFRSs
(issued May 2008).
*
 The following Interpretations refer to IAS 20:SIC-10
Government Assistance—No Specific Relation to Operating Activities
(issued July 1998)IFRIC 12
Service Concession Arrangements
(issued November 2006 and subsequently amended).
*effective date 1 January 2009
 
IAS 201348
 © 
IASCF
C
ONTENTS
 paragraphs
INTERNATIONAL ACCOUNTING STANDARD 20
 ACCOUNTING FOR GOVERNMENT GRANTS ANDDISCLOSURE OF GOVERNMENT ASSISTANCE 
SCOPE12DEFINITIONS36GOVERNMENT GRANTS733Non-monetary government grants23Presentation of grants related to assets2428Presentation of grants related to income2931Repayment of government grants3233GOVERNMENT ASSISTANCE3438DISCLOSURE39TRANSITIONAL PROVISIONS40EFFECTIVE DATE4143BASIS FOR CONCLUSIONS
 
IAS 20
 © 
IASCF1349
International Accounting Standard 20
 Accounting for Government Grants and Disclosure of Government Assistance
(IAS 20) is set out in paragraphs 1–43. All the paragraphs haveequal authority but retain the IASC format of the Standard when it was adopted by theIASB. IAS 20 should be read in the context of the
 Preface to International Financial Reporting Standards
and the
 Framework for the Preparation and Presentation of Financial Statements
.IAS8
 Accounting Policies, Changes in Accounting Estimates and Errors
provides a basis forselecting and applying accounting policies in the absence of explicit guidance.

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