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SIC 10 Government Assistance – No Specific Relation to Operating Activities

Published July 1998. Effective 1 August 1998.

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Synopsis

SIC 10 addresses whether government assistance such as transfers of resources to entities which operate in particular industries comes within the scope of IAS 20.

It concludes that this type of government assistance meets the definition of government grants in IAS 20, even if there are no conditions specifically relating to the operating activities of the entity other than the requirement to operate in certain regions or industry sectors.

Such grants shall therefore not be credited directly to equity, but dealt with according to IAS 20.

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