Agriculture
Government Grant (Unconditional)
Recording a subsidy received from the government related to biological assets.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash | Asset (+) | 5,000.00 | - |
| Government Grant Income | Revenue (+) | - | 5,000.00 |
💡 Accountant's Note
Under IAS 41, an unconditional grant related to biological assets measured at fair value is recognized as income the moment it becomes receivable.
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