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Our publication summarizes the FASB’s proposal that would establish guidance on the recognition, measurement and presentation of a government grant received by a business entity. Many business entities currently analogize to IAS 20, Accounting for Government Grants and Disclosure of Government Assistance, to account for government grants due to the lack of authoritative guidance in US GAAP. The proposal would leverage the guidance in IAS 20, modifying certain aspects of its scope, recognition threshold and other implementation guidance. Comments are due by 31 March 2025.