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Government grants

Background

This project had started as part of the IASB's short-term convergence project designed to eliminate a variety of differences between International Financial Reporting Standards and US GAAP. However, the project has evolved into a stand-alone (non-convergence) IASB project to reconsider IAS 20 Accounting for Government Grants and Disclosure of Government Assistance.

 

Current status of the project

Work on the government grants project has been deferred pending progress in the revenue recognition and emissions trading schemes projects. The Board will consider whether to restart the project as part of its three-yearly agenda consultation process.

 

Project milestones

DateDevelopmentComments
September 2005 IASB added a project on emissions trading schemes
February 2006 Work on the government grants project deferred

Related Discussions

  • Agenda Proposals

  • Dec 12, 2007

  • The staff presented the Board with four agenda proposals. They are (1) intangibles, (2) emissions trading and government grants, (3) common control transactions, and (4) management commentary.

  • Government Grants

  • Feb 21, 2006

  • The Board discussed the current status of the project to revise IAS 20 Accounting for Government Grants and Disclosure of Government Assistance.

  • Short-term Convergence

  • Jul 20, 2004

  • The Boards discussed the potential inconsistency between the government grant liability measurement and revenue recognition requirements of IAS 41 and the proposed changes to IAS 37 and the Revenue Recognition project.

  • Short-term Convergence

  • Feb 19, 2004

  • The Boards discussed two option, (1) to amend IAS 20 to reflect the requirements for government grants contained in IAS 41, or (2) withdraw IAS 20 in its entirety.

  • Convergence Topics

  • Jul 18, 2002

  • The Board discussed certain areas of difference among major national accounting standards and IAS where there are opportunities for convergence.

All Related