Government Grant Accounting (2022 BDO Comment Letter)
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In 2022, the FASB issued an "Invitation to Comment – Accounting for Government Grants by Business Entities," to solicit additional feedback on whether certain requirements in IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, related to the accounting for government grants should be incorporated into U.S. GAAP.
BDO supported the inclusion of IAS 20 into U.S. GAAP but recommended certain changes in our 2022 comment letter.
Editor's Note: Read more about the FASB's 2024 proposal and BDO's comment letter here.