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gianellev6886

Answer:

A government grant may take the form of a transfer of a non-monetary asset, such as land or other resources, for the use of the entity. In these circumstances it is usual to assess the fair value of the non- monetary asset and to account for both grant and asset at that fair value.

Explanation:

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adelmkghz
Grants related to assets are government grants whose primary condition is that an entity qualifying for them should purchase, construct or otherwise acquire long term assets (IAS 20.3) There are two ways of presenting such government grants in the statement of financial position (IAS 20.24-27)

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