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3. |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) |
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3.20 |
Government grant |
Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as other income on a systematic basis over the periods that the related costs, which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as a liability in equal amounts over the expected useful life of the related asset. The government grants received during 2017 and 2016 were immaterial.