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AS 12 got grant

Accountancy

If government grants exceed Assets value after deducting government grant form Assets Excess amt cr in p&l account ?

Satyaprakash Yadav

CA Final

★ 7K+

22-Apr-23 00:01

281

Answers (2)

No ,show asset at nominal value in B/S

Reetikaa R

CA Final

★ 7K+

22-Apr-23 02:33

If earlier the depreciation on that asset is debited to p&l a/c and the amount of grant is received after that i.e in the subsequent years then you can credit the excess in p&l a/c

Soumya A

CA Inter

★ 20K+

22-Apr-23 10:30