FASB Discusses Government Grant Accounting

At its April 3, 2024, meeting, the FASB discussed its project on the accounting for government grants. Among other things, the Board discussed two potential alternatives for developing an accounting model related to the project: (1) base the model on previous Board decisions or (2) use the framework in the IASB’s standard IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, and “incorporate targeted improvements based on certain previous Board decisions (for example, scope, recognition threshold, and cash flow statement presentation).”

For more information, see the meeting handout and tentative Board decisions on the FASB’s Web site.