Such grants can be shown either individually or under a sub-heading which is a heading and is general in nature like "Other income"; or else, they are subtracted in accounting the connected expense.
In the afterthought to paragraph 9 of IAS 18, sales of Real estate is stated as: "Revenue is normally recognized when legal title passes to the buyer. However, in some jurisdictions the equitable interest in a property may vest in the buyer before legal title passes and therefore the risks and rewards of ownership have been transferred at that stage. In such cases, provided that the seller has no further substantial acts to complete under the contract, it may be appropriate to recognize revenue".
At the present time, real estate creators understand IFRSs otherwise and record revenue for the sale of the estates at different times. Some real estate creators document revenue only after they have passed on the finished unit to the buyer, while others record revenue in advance, as construction progresses, by indication to the stage of completion of the real estate for sale.
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