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Author: |
Kelen Camehl, CPA, MBA |
Course Length: |
Pages: 26 ||| Word Count: 12,839 ||| Review Questions: 6 ||| Final Exam Questions: 10 |
CPE Credits: |
2.0 |
IRS Credits: |
0 |
Price: |
$17.95 |
Passing Score: |
70% |
Course Type: |
Text |
Technical Designation: |
Technical |
Field Of Study: |
Accounting |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This expanded course covers the accounting and financial reporting requirements for government grants under U.S. GAAP, including a direct comparison to international standards.
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Frequently Asked Questions: |
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Description: |
This course covers the accounting and financial reporting rules for government grants under U.S. GAAP. It walks you through how to determine what qualifies as a grant and the difference between asset related and income related assistance. You’ll learn when a grant can be recognized based on the likelihood of meeting conditions and how to present it on the balance sheet and income statement. The course also reviews the required disclosures, including the nature of the grant and any potential repayment obligations. By the end, you will be able to apply these rules to make sure financial statements reflect the impact of government support accurately. |
Usage Rank: |
13333 |
Release: |
2026 |
Version: |
1.0 |
Prerequisites: |
None. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
Internal: FASB CPE Courses Financial Accounting Standards
Internal: Online Accounting Courses for CPAs
External: How Do Business Grants Work?
External: Governmental accounting
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
19-Jun-2026 |
NASBA Course Declaration: |
Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Keywords: |
Accounting for Receipt of Government Grants - What CPAs Need to Know - CPE course |
Learning Objectives: |
Course Learning Objectives Upon completion of this course, you will be able to:
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Course Contents: |
Chapter 1 - Accounting for Receipt of Government Grants - What CPAs Need to Know Course Learning Objectives Course Overview Introduction Government Grant Definition & Scope Grant Related to an Asset vs. Income Recognition of a Government Grant Review Questions Grant Related to an Asset Grant Related to Income Repayments of Grants Financial Statement Presentation Financial Statement Disclosures Comparing ASC 832 vs. IAS 20 Conclusion Review Questions Glossary of Key Terms |
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