Topic 832 - Government assistance Topic 832 was implemented on December 15 of 2021. This...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Topic 832 - Government assistance
Topic 832 was implemented on December 15 of 2021. This amendment is intended for organizations to be fully transparent of the assistance they are receiving from government entities. Before topic 832, there was no requirement for organizations to disclose how they were using the monies received as grants or any other form of government assistance. Topic 832 requires organizations to disclose the type of assistance reived and place definitive accounting for that assistance. in addition organizations must separately disclose on their balance sheet and other statements that are affected by government assistance, how the monies affected those statements and how the monies were used.
Do you agree. Please explain.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.