Government Grant

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  • 1 Types
Definitions
Deferred Credit (Deferred Income; Deferred Liability)
Deferred Credit Deferred Income Deferred Liability Accruals Concept Balance Sheet Government Grant Accounting
Deferred Credit represents income received or recorded before it is earned, and it adheres to the accruals concept by being carried forward on the balance sheet until it is matched with the period in which it is earned.
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Definitions
Government Grant
Government Grant Financial Assistance Revenue Expenditure Capital Expenditure FRS 24 Accounting Standards Profit and Loss Account Economic Support
A government grant is a financial award provided by a government body to an organization to support activities that are deemed socially or economically beneficial. These grants can be either revenue-based or capital-based and have specific accounting treatments according to Financial Reporting Standards.
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