can we amortize grant on recoverable basis
if we have not received grant in bank and we amortize it in p&l on monthly whether it is right
It can be allowed. Im not sure about the treatment for AS but pretty sure it is just like any other conventional treatment- revenue grants and capital grants. If the bank did not give your grant, accrue it eg.
By RECEIVABLES a/c
To GRANT INCOME a/c (Just an idea so that you can account using accruals).
Sorry wrote the entries upside down before
CAclubindia
