• 2023 Issued Standards – SIC 10
  IFRIC and SIC Interpretations are available in the 2023 Issued Standards, which include all amendments issued up to and including 1 January 2023.

Registration is required to access the free version of the Issued Standards. This version does not include additional documents that accompany the full standards (such as illustrative examples, implementation guidance and basis for conclusions).

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.