Global plc, which prepares accounts to 31 January each year, operates in several different…

Global plc, which prepares accounts to 31 January each year, operates in several different countries and has recently obtained government financial assistance both in the UK and abroad:

(1) A foreign government has granted £4m to cover the establishment of a new factory. The factory and associated plant installation were completed in November 1992 at a cost of £10m for the land and buildings (land element – £2m) and £5m for the plant. Asset lives were estimated at 50 years for the premises and 10 years for the plant; a full year’s depreciation is charged in the year of acquisition.

The grant was dependent on an inspection by government officials and the company retaining ownership of the factory for the next five years. The grant was released by the foreign government on 27 March 1993 following their inspection in January 1993.

The country in which the factory is situated has had a turbulent history with frequent changes of government but has enjoyed a period of relative stability over the past three years. No previous governments have granted assistance to foreign companies.

(2) A local authority in the UK has provided a grant of £130 000 which covers the total initial establishment costs of a new training programme for company staff. The grant is dependent on the company expanding its existing training unit and increasing the number of trainees in direct production areas within the local factory by 20 per cent.

The increased number of trainees would have to be sustained for at least three years. The grant was received in January 1993. Expected costs of the complete programme are £300 000 of which £100 000, relating to initial establishment costs, has been incurred to date.

Actual and projected trainee numbers provided by the production director are:


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