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Understanding new ASC 832, govt assistance

12.17.2021 | Duration: 11:18

We discuss ASU 2021-10, requiring new annual disclosures for entities receiving government assistance.

 

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Podcast overview

KPMG professionals discuss the FASB’s new ASC 832 and ASU 2021-10, which require business entities to disclose information about certain government assistance they receive.

Applicability

  • All business entities, except not-for-profit entities and employee benefit plans.
Resource
FASB approves new disclosures for government assistance
KPMG reports on ASU 2021-10, requiring new annual disclosures for entities receiving government assistance.
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Podcast contents

  • 00:45 - Background to ASU 2021-10
  • 02:05 - Summary of requirements
  • 06:15 - Transactions exempt from ASC 832
  • 06:55 - Transition guidance
  • 07:55 - Possible future FASB plans
  • 08:40 - Focus areas for entities 

Meet our team

Image of Karen Silverman
Karen Silverman
Partner, Audit, KPMG LLP
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Image of Kathy Nguyen
Kathy Nguyen
Senior Manager, Dept. of Professional Practice, KPMG US
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Image of Karen Silverman
Karen Silverman
Partner, Audit, KPMG LLP
Read bio
Image of Kathy Nguyen
Kathy Nguyen
Senior Manager, Dept. of Professional Practice, KPMG US
Read bio

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