Danisco A/S (2010)
Note 38 – Accounting policies [extract]
Government grants
Government grants, which are disclosed in a note, include grants for research and development, CO2 allowances and investments. Grants for research and development and CO2 allowances are recognised as income on a systematic basis to match the related cost. Investment grants are set off against the cost of the subsidised assets.
33 Government grants
During the financial year ended, Danisco received government grants for research and development of DKK 2 million (2008/09 DKK 3 million) DKK 1 million (2008/09 DKK 9 million) for investments and DKK 6 million (2008/09 DKK 14 million) for other purposes.
Further Danisco was granted quotas of 49,551 tonnes of CO2 allowances (2008/09 610,277 tonnes). The value at grant date was DKK 5 million (2008/09 DKK 88 million), and the quotas match the expected emission tax.