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Recognition when conditions are present
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When the conditions have been substantially met
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When there is reasonable assurance that the entity will comply with the conditions and that the grant will be received
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Timing and pattern of recognition
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When grant is awarded or, if conditional, immediately once the condition is substantially met
Recipients should also consider whether grantor-imposed restrictions exist.
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Using a systematic basis over the periods in which the entity recognizes the related expenses or losses that the grants are intended to compensate
When the grant becomes receivable if it compensates for expenses or losses already incurred
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Presentation of grant income
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Grant income is presented on a gross basis (i.e., grant revenue or other income)
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May be reported separately as “other income” or deducted from the related expense
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