Government grant accounting under US GAAP is evolving with ASU 2025-10. This episode explores the updated model, including scoping, recognition and measurement, and the distinction between asset and income grants. We also cover presentation and disclosure requirements, along with practical considerations for adoption of this new FASB guidance.

For more information, read our In depth, FASB issues guidance on accounting for government grants.

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About our guest

Angela Fergason is a partner and standard setting leader in PwC's National Office who specializes in accounting for revenue and employee compensation arrangements, among other related topics.

About our guest host

Pat Durbin is a PwC National Office Deputy Chief Accountant. He has over 30 years of experience consulting with our clients and engagement teams on complex accounting matters, including issues related to revenue, compensation, income taxes, and inventory under both US GAAP and IFRS.

Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to us_podcast@pwc.com.

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Government grants: Understanding new FASB guidance