Requirement Determine the amounts to be recognised in profit or loss and in other comprehensive income in respect of the property for the year ended 31 December 2010. (3 marks) e) Evaluate the compliance of IAS 20 Accounting for Government Grants and Disclosure of Government Assistance with the conceptual framework definitions of a liability and income. (4 marks) 1(f) A company incurred the following borrowing costs during the year $'000 Overdraft interest 12 Foreign currency loan interest (correctly translated into $) 84 Foreign currency loan exchange differences on capital 140 In addition a three-year fixed rate $2 million loan was taken out on 1 January 2010 at 6.5%. A loan setup fee was charged of $20,000. This increased the effective interest rate on the loan to 6.88%.
