There is diversity in how businesses handle government assistance due to a lack of specific GAAP guidance. This course covers the disclosure requirements from ASU No. 2021-10, effective for annual periods starting after December 15, 2021. It also addresses recognition, measurement, and reporting requirements from IAS 20.

• recognize the key disclosure requirements prescribed by ASU No. 2021-10
• identify existing non-U.S. GAAP guidance used by entities with respect to government grants
• recognize the entities that are within the scope of the new U.S. GAAP disclosure requirements
• identify the effective date of the new disclosure requirements in ASC Topic 832 ("Government Assistance")