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Government grants for expenses

There are often times when your local government can assign a grant for your company or for your industry for you to apply for the grant etc. The means may vary, however the general approach to recognizing the grant on your financial statements remains the same.   (more…)

Grants related to assets

So say that you received a government grant and having been compliant with all the conditions, you receive the grant. You will now recognize it within the financial statements, only you don’t exactly know how to do it. For an example let’s say that the grant itself was for acquiring new equipment for your production.  […]

Donations received – how to treat them?

Specifics are always tied to events and occasions, the donations received as such are hence dependable of the business type, industry the company is in etc., however, if there is an occasion your company does receive a donation, the treatment and disclosure requirements are still more or less the same. There are some special disclosure […]