FASB ITC: Government Assistance for Business Entities
June 21, 2022
by WSCPA
A&A TODAY: PRESENTED BY THE WSCPA AND GALASSO LEARNING SOLUTIONS
FASB has issued an Invitation to Comment to gather feedback about the operability of leveraging IAS 20 for government grants for for-profit entities in the US. The ITC does not include any preliminary views but is to help the FASB staff gather information from stakeholders about any benefits or issues that should be considered in the project. Comments are due September 12, 2022.
Do you think IAS 20 is operable for for-profit entities in the US?
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With over 15 years of experience in the accounting profession, Melisa Galasso designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She closely monitors regulatory bodies for changes in auditing and accounting guidance and serves as a subject matter expert in implementing the updated guidance.