Scientific paper ID 2350 : 2023/4

On an international scale, many enterprises prepare financial statements that are provided to external users of accounting information - customers, suppliers, auditors, government authorities and other interested persons and organizations. The reports are prepared within certain frameworks that aim for maximum accuracy, clarity, transparency and comprehensibility of the documents.

When the reporting is related to the granted grants or government donations (aid), depending on the chosen accounting base (national or international), the ments of the relevant accounting standards should be followed. Despite the similarity in the preparation of financial statements in different countries, there are also differences, which are distinguished by different legal, economic, geopolitical and social features. Also, governments in part may additional clauses and claims for state purposes.

The purpose of this report is to present a comparative analysis of the conceptual framework and key statements of International Accounting Standard 20 (IAS 20) - Accounting for Government Grants and Disclosure of Government Aid and National Accounting Standard 20 (IAS 20) – Accounting for government donations and disclosure of government assistance.