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5 Mar. 2020

February 2020 Update to AASB Staff FAQs for Not-for-Profit Entities – Research Grants

The Staff FAQs for not-for-profit entities regarding the accounting for research grants have been updated.

This update includes:

  • adding Q&As to recap some points covered in the December 2019 staff webinar;
  • clarifying Scenario 1B regarding grants payable in instalments subject to the agreed research activities being carried out; and
  • removing Scenario 2A, which has been included in the illustrative examples accompanying AASB 15.