- US GAAP
This Topic provides guidance on disclosures for various forms of government assistance. ASC 832-10 notes the following:
Governments provide different forms of assistance to entities, and the forms of assistance have varying structures, complexities, and terms. Government assistance can include tax credits, cash grants, grants of other assets, and project grants. Often, government assistance is provided to an entity for a particular purpose, and the entity promises to take specific actions. Generally accepted accounting principles (GAAP) do not provide comprehensive recognition and measurement guidance for many forms of government assistance received by business entities.
This Topic provides guidance on disclosures for transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy.