The IFRS disclosure requirements for grant income as per IAS 20 are quite limited. By contrast, the disclosure requirements for both grant income and grant expenditure under IPSAS are comprehensive and provide the user with additional information. Apart from various quantitative disclosures around revenue, expenditure, asset and liabilities, there are also a number of qualitative disclosure requirements.
The table below highlights the key disclosure requirements under each accounting framework.
| IFRS | IPSAS |
| Accounting policy |
A description of the legislation or policy decisions which compel the other party to satisfy the present obligation |
| The nature and extent of government grants recognised in the financial statements |
An explanation of how the timing of the satisfaction of its compliance obligation relates to the typical timing of payment (for income recognition) |
| Any unfulfilled conditions |
Significant payment terms |
| When a grant recipient typically satisfies its present obligations | |
| Any significant judgements |
|
| A description of activities required under a binding arrangement |
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Follow these links for a detailed look at other areas of Government Grants:
