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FRS 102: Government grants under UK GAAP

FRS 102 Section 24 sets out the requirements that apply to grants from the government, including non-monetary grants.

The standard

The requirements regarding government grants are set out as part of FRS 102. However, individual sections of the standard should not be looked at in isolation as other parts may be relevant.

FRS 102 is regularly updated and amended by the Financial Reporting Council (FRC). For the full text of FRS 102, guidance on which version of the standard to apply and notes on recent amendments, see our main FRS 102 page.

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Government grants

A chapter on financial reporting of government grants under UK GAAP. Includes sections on recognition and measurement and disclosure requirements, with worked examples. This key title by Steve Collings has been comprehensively updated to reflect changes issued by the Financial Reporting Council (FRC) since 2019.

Government Grants

A chapter on government grants, in this accessible introduction to the accounting rules relevant to tax computations in the UK. Written for tax practitioners who wish to gain a better understanding of accounting rules in the UK. Sections cover: FRS 102, Section 24; International standards; Taxation considerations.

Government Grants

A chapter on government grants - part of a one-stop-shop guide by Steve Collings on all aspects of UK auditing standards and new UK GAAP accounting standards. The chapter shows how to put the standards into practice, covering accounting requirements: recognition and measurement, repayment of grants, disclosure requirements, auditing government grants and disclosure of government assistance.

Government Grants

A chapter on government grants within the small companies' financial reporting framework and the micro-entities legislation, written by a specialist on small company reporting issues. Recognition and measurement of government grants, non-monetary grants and disclosures are discussed, along with helpful real-life examples.

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eBooks

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.

Government grants

Fully updated guide focusing on each area of the financial statement in detail with illustrative examples. This chapter gives a comparison of FRS 102 Section 24 and IFRS, and looks at recognition and measurement, the performance model, the accrual model, repayment of government grants, presentation, and disclosure requirements.

Government grants

A practical manual for preparing new UK GAAP-compliant disclosures. This chapter discusses government assistance, recognition principles, presentation of grants, repayment of grants, IAS 41 Agriculture and grants, and disclosure requirements.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Example accounts

Model accounts and disclosure checklists for 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.


Further reading

Manuals and handbooks

The ICAEW Library stocks the latest UK GAAP handbooks and manuals. You can browse all our books on FRS 102 and government grants or request any of the following popular titles by contacting us on +44 (0)20 7920 8620, by web chat, or at library@icaew.com

GAAP 2019: UK reporting – FRS 102 (Volume B)
Deloitte, Croner-i, 2019
Comprehensive manual explaining how to apply FRS 102, with worked examples and extensive interpretation and guidance. The chapter on government grants covers the scope of Section 24, recognition and measurement, disclosures, and the UK Apprenticeship Levy.

Manual of accounting: UK GAAP
PwC, Lexis Nexis, 2019
Practical guide with worked examples throughout, dealing with day-to-day issues as well as complex questions. The chapter on government grants explains the definition of government grant, general principles of recognition, the performance and accrual models, measurement of non-monetary assets, repayment of government grants, presentation and disclosure. 

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