COVID-19 – Accounting for government assistance

How and when to account for government grants and other assistance

How and when to account for government grants and other assistance

Governments around the world have implemented a broad range of actions to help companies during the COVID-19 coronavirus pandemic. Many – but not all – of these actions can be accounted for under IAS 20 Accounting for Government Grants.

In our latest podcast, Brian O’Donovan and Julia LaPointe discuss the exceptions as well as the rules to using this standard in the current unprecedented environment

Listen on  >Apple podcasts  >Spotify  >Google Podcasts

 

“There are lots of decisions to be made about how you incorporate grants into financial statements"

Brian O’Donovan,
Partner,
KPMG International Standards Group


“Even though it might be clear that I’m receiving an economic benefit from the government, it’s not necessarily accounted for as a grant.”

Julia LaPointe,
Senior manager,

KPMG International Standards Group

 

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