CS Executive · Corporate Accounting and Financial Management · Accounting Standards
Under the applicability list for companies not following Ind AS, what is the stated title of AS 12?
AS 12 is titled Accounting for Government Grants in the applicability list for companies not following Ind AS. The other titles are invented. Revenue is dealt with by AS 9, titled Revenue Recognition.
- AGovernment Grants and Subsidies
- BAccounting for Government GrantsCorrect
- CRevenue from Government Contracts
- DDisclosure of Government Assistance
Explanation
The list gives AS 12 the title Accounting for Government Grants. The other titles are not used in the official list. AS 9 is the separate standard titled Revenue Recognition.
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