On $1$ June $20$x$1,$ CLM received written confirmation from a local government agency that it would receive a $$1$ million grant towards the purchase price of a new office building. The grant becomes receivable on the date that CLM transfers the $$10$ million purchase price to the vendor.

On $1$ October $20$x$1$ CLM paid $$10$ million in cash for its new office building, which is estimated to have a useful life of $50$ years. By $1$ December $20$x$1,$ the building was ready for use. CLM received the government grant on $1$January $20$x$2.$

Required Discuss the possible accounting treatments of the above in the financial statements of CLM for the year ended $31$ December $2$x$1.$