US Government Aid Accounting Plans Based on Overseas Rules

Accounting rulemakers want to know if already-established international rules on accounting for government aid could work for US businesses.

The Financial Accounting Standards Board formally asked the public on Monday if the International Accounting Standards Board’s IAS 20 represented a workable solution for improving US financial reporting.

The feedback will help FASB decide if it should adopt the international requirements as is or adopt some version of them so companies can recognize and measure government grants, breaks, and incentives, it said.

• No part of US generally accepted accounting principles (GAAP) requires companies to tally how breaks, low-interest loans, or cash ...