November 2022
Intermediate to advanced
1392 pages
49h 38m
English
Content preview from Wiley GAAP 2023
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54ASC 832 GOVERNMENT ASSSISTANCE
TECHNICAL ALERT
ASU 2021-10
In November 2021, the FASB issued ASU 2021-10, Disclosures by Business Entities about Government Assistance. The FASB started a project on government assistance in 2014, and its research confirmed that there was diversity in practice and limited useful information to help entities determine accounting and disclosure for government assistance, for example, federal disaster assistance. The project lay more or less dormant until the COVID-19 pandemic increased the need for disclosure guidance related to government assistance. The Board decided to focus its attention on disclosures.
Guidance The ASUs objective is to increase the transparency of government assistance including the disclosure of
- The types of assistance,
- An entity's accounting for the assistance, and
- The effect of the assistance on an entity's financial statements.
The ASU also adds a new Topic, ASC 832.
Because the changes are currently effective, the ASU's detailed guidance is included in this chapter and in Appendix B, Financial Statements Disclosure Checklist.
Effective Dates The amendments are effective ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.