FASB Issues Guidance on Disclosures by Business Entities About Government Assistance

The FASB has issued Accounting Standards Update (ASU) No. 2021-10, Disclosures by Business Entities About Government Assistance. The ASU will require “business entities to disclose, in notes to their financial statements, information about certain types of government assistance they receive.” For more information, see the press release on the FASB’s Web site.