In this month's exclusive Accountancy CPD module, we explain the accounting treatment for government grants under FRS 102 and FRS 105
This is particularly important for companies that received covid-19 support grants during the pandemic.
By completing this module you will be able to:
- understand what is dealt with in the government grants sections of FRS 102 and FRS 105 and what is not;
- identify the two choices available under FRS 102 and how FRS 105 restricts recognition and measurement to one basis;
- understand how to deal with grants that become repayable by a reporting entity; and
- ensure the disclosures in the financial statements comply with the requirements of UK GAAP.
This CPD module takes 20 minutes to complete and is followed by a short quiz to ensure thorough learning. There are also detailed course notes to ensure a full learning experience. Any CPD learning is also automatically added to Your CPD Tracker.
The CPD course has been prepared by Steve Collings, accounting specialist for Croner-i.
If you're already a subscriber, you can log in to access this CPD module. This module is free to view once readers have registered for an Accountancy Daily account.