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Invitation to comment on accounting for government grants

On June 13, the FASB issued an invitation to comment to solicit feedback on whether certain requirements of IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, should be incorporated into US GAAP. The guidance in IAS 20 is often applied by business entities by analogy as no specific guidance on recognition and measurement of government grants received by business entities currently exists in US GAAP. Comments on the invitation to comment are due September 12.

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