In Mormonism, the word gospel usually refers to the “plan of salvation” or “plan of happiness.” It includes faith in Jesus Christ, repentance, baptism, receiving the gift of the Holy Ghost, temple ordinances, and enduring to the end in obedience. In this sense, the gospel is understood as a set of laws, principles, and ordinances that must be followed to obtain eternal life.
For Mormons, the gospel is essentially good news because God has made it possible for people to obey these laws and progress toward exaltation. Unlike historic Christianity, there is no sharp distinction between law and gospel. The gospel is viewed as the law of Christ, giving people the opportunity to show their faithfulness.
Biblical Christianity, however, uses the word gospel to describe the good news of what God has already done in Christ. The gospel is not a new law to obey, but the announcement that Jesus lived a perfect life, died for sins, and rose again, and that forgiveness and eternal life are freely given through faith in him (Romans 1:16; 1 Corinthians 15:1–4).