If it is a government grant then IAS 20 shall apply. IAS 20 a grant relating to assets may be presented in one of two ways:
· As deferred income (and released to profit or loss when related expenditure impacts profit
or loss)
· By deducting the grant from the asset’s carrying amount.
If it is not a government grant you may follow SIC-15 Operating Leases: Incentives which says:
All incentives for the agreement of a new or renewed operating lease are recognised as an integral part of the *** consideration agreed for the use of the leased asset, irrespective of the incentive’s nature or form or the timiof payments
The lessee recognises the aggregate benefit of incentives as a reduction of rental expense over the lease term, on a straight-line basis unless another systematic basis is representative of the time pattern of the lessee’s benefifrom the use of the leased asset