"The Financial Accounting Standards Board plans to establish requirements on how companies account for government grants in their financial reports, following awards provided in recent years as pandemic-related and other relief.

The standard setter on Wednesday voted, 4-3, to require U.S. public and private companies to record the value of grants they've received. Most companies already voluntarily do this by applying an existing standard on government-aid accounting from the FASB's international counterpart, the London-based International Accounting Standards Board. "