The Accounting Treatment Applicable to Non-Refundable European Funds
Number 11, November 2021 » Financial accounting and reporting
Abstract: Accounting for the European funds is a challenge for every professional accountant, even more so that the identified irregularities can attract penalties and even the total reimbursement of the funding granted. One can account for these forms of non-refundable assistance on a systematic basis as revenue associated to periods related to the expenses that the respective grants are designed to offset.
Keywords: non-refundable European funds, subsidies, revenue, expenses
Classification JEL: M41, H29 | Pages: 26-32
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