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Journal of Accountancy · Recently

FASB publishes guidance on accounting for government grants

Tax Brief summary and classification of the original reporting.

Bottom Line

💡 FASB publishes guidance on accounting for government grants. Worth reviewing for potential client impact.

Summary

A new Accounting Standards Update establishes previously missing GAAP guidance related to the recognition, measurement, and presentation of government grants received by a business entity.

Classification

Category: fyiPriority: importantReason: Contains 'update' - significant update

Affected Groups

All tax practitioners

Related Topics

Original Source

We aggregate public tax updates and provide AI-assisted summaries. Please read the original reporting for full details.

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