AS 12 Govt Grants & AS 13 Investments

AFM Definition, Scope & Accounting Standards including Ind AS Free JAIIB Capsule 26 views Updated
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AFM · Definition, Scope & Accounting Standards including Ind AS
What are the primary objectives of AS 12 and AS 13 in Indian Accounting Standards?
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AS 12 deals with accounting for Government Grants (subsidies/incentives). AS 13 deals with accounting for Investments (long-term vs current).
AS 13 classifies investments into current and long-term. AS 12 requires unconditional biological asset grants to be recognized in profit/loss.
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AS 12 Govt Grants & AS 13 Investments — Full Text

What are the primary objectives of AS 12 and AS 13 in Indian Accounting Standards?

Answer

AS 12 deals with accounting for Government Grants (subsidies/incentives). AS 13 deals with accounting for Investments (long-term vs current).

Additional notes

AS 13 classifies investments into current and long-term. AS 12 requires unconditional biological asset grants to be recognized in profit/loss.

Part of Accounting & Financial Management for Bankers · Definition, Scope & Accounting Standards including Ind AS · Last updated

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