# ASC 832-10-65: Government Assistance — Overall — 65 Transition and Open Effective Date Information Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/832/10/#65-transition-and-open-effective-date-information) Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T01:48:38.398Z to 2026-09-10T01:48:38.398Z Record version: sha256:f4362c53ee29f7c202f859961b7baa0ce47db29f2fed94334638541812a6d59a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 832-10-65: 65 Transition and Open Effective Date Information [Read section](https://asc.understandingaccounting.org/asc/832/10/#65-transition-and-open-effective-date-information) SEC content: no ##### [832-10-65-1](https://asc.understandingaccounting.org/asc/832/10/#832-10-65-1) Pending content: no Source downloaded (UTC): 2026-09-10T01:48:38.398Z to 2026-09-10T01:48:38.398Z Record version: sha256:8d11ca4d946c116ed96b71dca8c5995bbd3aa9cfa3ecb639bb5176b696b435db Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Paragraph superseded on 07/10/2023 after the end of the transition period stated in Accounting Standards Update No. 2021-10, _Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance_. #### Transition Related to Accounting Standards Update No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities ##### [832-10-65-2](https://asc.understandingaccounting.org/asc/832/10/#832-10-65-2) Pending content: no Source downloaded (UTC): 2026-09-10T01:48:38.398Z to 2026-09-10T01:48:38.398Z Record version: sha256:e8ca2e5efa0882b33c536a4e40ba093cb468782e9e4f92e7ea5a69f892fe5254 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Accounting Standards Update No. 2025-10](https://asc.understandingaccounting.org/updates/asu-2025-10/) 2031-06-14 2028-12-16 2028-12-16 2028-12-16 2028-12-16 2029-12-16 2029-12-16 2029-12-16 2029-12-16 2029-12-16 2029-12-16 2029-12-16 2029-12-16 2029-12-16 2029-12-16 The following represents the transition and effective date information related to Accounting Standards Update No. 2025-10, _Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities_: **Effective date and early adoption** 1. a The pending content that links to this paragraph shall be effective for a [public business entity](https://asc.understandingaccounting.org/glossary/p/#public-business-entity "A public business entity is a business entity meeting any one of the criteria below. Neither a not-for-profit entity nor an employee benefit plan is a business entity. It is required by the U.S. Securities and Exchange Commission (SEC) to file or furnish financial statements, or does file or furnish financial statements (including voluntary filers), with the SEC (including other entities whose financial statements or financial information are required to be or are included in a filing). It is required by the Securities Exchange Act of 1934 (the Act), as amended, or rules or regulations promulgated under the Act, to file or furnish financial statements with a regulatory agency other than the SEC. It is required to file or furnish financial statements with a foreign or domestic regulatory agency in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer. It has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an over-the-counter market. It has one or more securities that are not subject to contractual restrictions on transfer, and it is required by law, contract, or regulation to prepare U.S. GAAP financial statements (including notes) and make them publicly available on a periodic basis (for example, interim or annual periods). An entity must meet both of these conditions to meet this criterion. An entity may meet the definition of a public business entity solely because its financial statements or financial information is included in another entity's filing with the SEC. In that case, the entity is only a public business entity for purposes of financial statements that are filed or furnished with the SEC.") for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods. 2. b For an entity other than a public business entity, the pending content that links to this paragraph shall be effective for annual reporting periods beginning after December 15, 2029, and interim reporting periods within those annual reporting periods. 3. c Early adoption of the pending content that links to this paragraph is permitted in both interim and annual reporting periods in which financial statements have not yet been issued or made available for issuance. If an entity adopts the pending content that links to this paragraph in an interim reporting period, it shall adopt the pending content as of the beginning of the annual reporting period that includes that interim reporting period. **Transition method** 1. d An entity shall apply the pending content that links to this paragraph using one of the following transition methods: 1. 1 A modified prospective approach for both: 1. i [Government grants](https://asc.understandingaccounting.org/glossary/g/#government-grant "(P) December 16, 2028; (N) December 16, 2029832-10-65-2A transfer of a monetary asset or a tangible nonmonetary asset, other than in an exchange transaction (including an exchange transaction that may be at a significant discount to fair value), from a government to an entity except for a not-for-profit entity and an employee benefit plan within the scope of Topics 960, 962, and 965 on plan accounting.") that are entered into on or after the effective date. 2. ii Government grants that are not complete as of the effective date. A government grant is complete when substantially all of the government grant proceeds have been recognized before the effective date of the pending content that links to this paragraph. Prior-period results shall not be restated, and there shall be no cumulative-effect adjustment to the opening balance of retained earnings as of the beginning of the year of adoption. 2. 2 A modified retrospective approach for both: 1. i Government grants that are entered into on or after the beginning of the earliest period presented. 2. ii Government grants that are not complete as of the beginning of the earliest period presented. A government grant is complete when substantially all of the government grant proceeds have been recognized before the beginning of the earliest period presented in which the pending content that links to this paragraph is adopted. All prior period results shall be restated for government grants that are not complete as of the beginning of the earliest period presented through a cumulative-effect adjustment to the opening balance of retained earnings as of the beginning of the earliest period presented. 3. 3 A retrospective approach to all government grants through a cumulative-effect adjustment to the opening balance of retained earnings as of the beginning of the earliest period presented. 2. e For purposes of the transition guidance in (d)(1)(ii): A grant related to an asset that was accounted for by reflecting the grant as an adjustment to the cost basis in determining the carrying amount of the asset before the effective date is considered recognized when substantially all of the grant is reflected in the carrying amount of the asset on the balance sheet. For all other government grants, a government grant is considered recognized when substantially all of the government grant proceeds have been recognized in the income statement before the effective date of the pending content that links to this paragraph. 3. f For purposes of the transition guidance in (d)(2)(ii): A grant related to an asset that was accounted for by reflecting the grant as an adjustment to the cost basis in determining the carrying amount of the asset before the beginning of the earliest period presented is considered recognized when substantially all of the grant is reflected in the carrying amount of the asset on the balance sheet. For all other government grants, a government grant is considered recognized when substantially all of the government grant proceeds have been recognized in the income statement before the beginning of the earliest period presented. 4. g An entity shall apply the pending content that links to this paragraph prospectively to government grants acquired in business combinations that occur after the effective date of the pending content. **Transition disclosures** 1. h An entity that applies the pending content that links to this paragraph using a modified prospective approach in accordance with (d)(1) shall disclose the nature of and reason for the accounting change. 2. i An entity that applies the pending content that links to this paragraph using a modified retrospective approach or a retrospective approach in accordance with (d)(2) or (d)(3) shall provide the transition disclosures required by paragraphs [250-10-50-1 through 50-2](https://asc.understandingaccounting.org/asc/250/10/#250-10-50-1) in the period of adoption, except for the requirements in paragraph [250-10-50-1(b)(2)](https://asc.understandingaccounting.org/asc/250/10/#250-10-50-1) for the current reporting period and the requirements in paragraph [250-10-50-1(b)(4) through (c)(1)](https://asc.understandingaccounting.org/asc/250/10/#250-10-50-1).