Cofco Bio-Chemical received a subsidy of 250 yuan/ton of corn from the government
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Last Update: 2020-06-29
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Source: Internet
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Author: User
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recently, COFCO Biochemistry (Anhui) Co., Ltd(hereinafter referred to as "the Company") received a joint "Notice on Financial Support to Cofco Biochemistry (Anhui) Co., Ltd." issued by the Finance Bureau of the City Of China, the Economic and Information Technology Committee of the Yanhui District (No5), according to The FinancialIn order to help enterprises cope with the current severe business situation, ensure the normal operation of production lines such as COFCO Biochemical Fuel Ethanol Plant, and give a subsidy of 250 yuan per ton to the 160,000 tons of corn raw materials consumed by products such as fuel ethanol plantsHelp from January 2016 to March 2016The district-level subsidy amounted to $16.7 millionrRn
At present, the company has not received the above paymentAccording to The Relevant Content of Enterprise Accounting Standard S16 - Government Subsidy, the subsidy is a government subsidy related to the proceeds and shall be recognized and measured in accordance with the actual amount of the amount received at the time of actual receiptBased on the above-mentioned documents, the Company will recognize the period in which the above-mentioned payments are recognized as non-operating incomerRn
Recently, COFCO Biochemistry (Anhui) Co., Ltd(hereinafter referred to as "the Company") received a joint "Notice on financial support for COFCO Biochemistry (Anhui) Co., Ltd( In order to help enterprises cope with the current severe business situation, ensure the normal operation of production lines such as COFCO Biochemical Fuel Ethanol Plant, and give a subsidy of 250 yuan per ton to the 160,000 tons of corn raw materials consumed by products such as fuel ethanol plantsHelp from January 2016 to March 2016The district-level subsidy amounted to $16.7 millionrRn
At present, the company has not received the above paymentAccording to The Relevant Content of Enterprise Accounting Standard S16 - Government Subsidy, the subsidy is a government subsidy related to the proceeds and shall be recognized and measured in accordance with the actual amount of the amount received at the time of actual receiptBased on the above-mentioned documents, the Company will recognize the period in which the above-mentioned payments are recognized as non-operating incomerRn
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