SBR—Homework3—CH5- Non-current assets—WorkbookP82 Example 2 Government grants Vianne accounts for capital grants using the netting off approach. On 30 June 20X1 Vianne purchases a low-emission machine for $10 million. It receives a government grant of $1 million on the same day to contribute towards the cost of this machine. The machine is attributed a useful economic life of 5 years. Discuss how the above events should be accounted for in the year ended 31 December 20X1.