PODCAST

FRV podcast: Understanding new ASC 832, govt assistance

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

Karen Silverman

Karen Silverman

Partner, Dept. of Professional Practice, KPMG US

+1 212-954-1377

Kathy Nguyen

Kathy Nguyen

Senior Manager, Dept. of Professional Practice, KPMG US

1 407-563-2654

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.

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