Disclosures on government assiatance

Question

We are into pharmaceutical products and we are using some of the government laboratories on some research. however government is giving it to us for free of charge. are we required to disclose this in our accounts as per IAS 20?

Answer 1

Hello

The significance of the benefit in the above question may be such that disclosure of the nature, extent and duration of the assistance is necessary in order that the financial statements may not be misleading.

regards