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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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