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Grants under new UK GAAP

Section 24 of the FRS 102 covers government grants. On this page you can find articles, books and online resources with links to the standard, summaries, guidance and news of recent developments.

General guidance and information on the accounting standard is available from our FRS 102 page.

Government grants were dealt with in SSAP 4 under old UK GAAP. This standard has been superseded by FRS 102.

What's on this page?

  • Full-text standard
  • Model accounts
  • Guidance and support from ICAEW
  • eBooks
  • Guides
  • Online articles
  • Articles and books from the Library

Contact the Library

Expert help for your enquiries and research.

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Full-text standard

FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland
As issued by the Financial Reporting Council (FRC) in September 2015. This updated edition incorporates amendments issued in September 2014, February 2015, March 2015 and July 2015. Government grants are covered in Section 24.

More information and links to previous versions and amendments are available on our main FRS 102 page.

Model accounts

Model accounts and disclosure checklists for new UK GAAP
The ICAEW Library can provide model accounts and disclosure checklists for FRS 101, FRS 102, FRS 102 Section 1A, FRS 103 and FRS 105. The examples and checklists cover a broad range of entities, including small companies, charities, groups, LLPs and micro-companies.

ICAEW guidance and support

The new UK GAAP
ICAEW's financial reporting portal offering practical resources on the new regime, including guidance and FAQs covering key topics.

Ask ICAEW Technical Advisory Service

Get an opinion from the experts. Our experienced technical advisors can answer your new UK GAAP questions and offer practical advice. Call the advisory helpline on +44 (0)1908 248 250.

Questions we've dealt with recently include:

  • I understand I can recognise grants under the performance basis as well as the accruals basis under FRS 102. What are the differences?
  • What is happening to the FRSSE? Can I still use it?
  • When do I have to apply FRS 102 to my UK company client?
  • How does FRS 102 impact charities?

Find out more about the Technical and ethics advisory helpline, including our opening hours.

Financial Reporting Faculty

Financial Reporting Faculty
The Faculty provides assistance and support for IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards trackers, plus practical advice from industry experts and working accountants.


The Library provides full text access to a selection of key business and reference eBooks from leading publishers. eBooks are available to logged-in ICAEW members, ACA students and other entitled users. If you are unable to access an eBook, please see our Help and support advice or contact library@icaew.com.

Interpretation and application of UK GAAP for accounting periods commencing on or after 1 January 2015
Steve Collings (2015)
A detailed, practical guide to applying UK GAAP. Government grants are addressed in Chapter 16, with sections on:

UK GAAP financial statement disclosures manual
Steve Collings (2016)
A practical manual for preparing new UK GAAP-compliant disclosures. This guide collects all of the latest guidelines into one place and is designed for practical application with many real-world examples. The chapter on government grants covers:

UK GAAP 2017: Application of FRS 100–104 in the UK
EY (2017)
This guide has been fully updated to reflect the application of the new accounting standard in practice. It focuses on each area of the financial statement in detail and explains how they are treated by FRS 102, with illustrative examples. The chapter on government grants covers:

  • Comparison between Section 24 and IFRS
  • Requirements of Section 24 for government grants
  • Summary of GAAP differences.


Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.

Staff Education Note 8: Government grants
Guidance note produced by the FRC highlighting key areas of consideration when transitioning to FRS 102.

Online articles

The Library provides access to leading business, finance and management journals. These journals are available to logged-in ICAEW members, ACA students and other entitled users subject to suppliers' terms of use.

Articles are available to logged-in ICAEW members, ACA students and other entitled users.

Articles from other sources

Choosing the right FRS: Accounting for government grants
CCH Daily, November 2015
This article considers accounting for government grants and the options for company preparers, from FRS 102 to FRS 105 for micro entities, and IFRS. Available online to Accountancy Daily subscribers or in print from the Library.

FRS 102 case study 6: Grants, tax and capital assets
CCH Daily, July 2015
This article considers accounting for government grants and deferred tax on capital assets, with tips and sample accounts under the new UK GAAP. Available online to Accountancy Daily subscribers or in print from the Library.

FRS 102: how to account for grants
Detailed article from AccountingWEB by Steve Collings on the treatment of grants under FRS 102. Published April 2014.

Accounting for government grants
Article from Accountancy Plus by Robert Kirk on the performance and accrual models under FRS 102, with worked examples. Published March 2014.

FRS 102: government grants
Article from AccountingWEB by Steve Collings covering the important differences between SSAP 4 and FRS 102. Published October 2013.

Articles and books in the Library collection

To find out how you can borrow books from the Library please see our guide to book loans.

You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.

Can't find what you are looking for?

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