Invitation to Comment 2022-002—Accounting for Government Grants by Business Entities—Potential Incorporation of IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, into Generally Accepted Accounting Principles

The purpose of the Invitation to Comment (ITC) is to solicit broad stakeholder feedback on the recognition, measurement, and presentation requirements of IAS 20, Accounting for Government Grants and Disclosure of Government Assistance. Specifically, the FASB staff would like to understand whether the requirements of IAS 20 as it relates to the accounting for government grants represent a workable solution for improving generally accepted accounting principles (GAAP) in the U.S. financial reporting environment for business entities.

Issued: June 13, 2022

Comments Due: September 12, 2022