COVID-19 PPP Loans Financial Reporting CARES Act Accounting

Accounting and Financial Reporting for COVID-19, the CARES Act and PPP Loans - 2021 Edition

Available On Demand

The objective of this course is to review the accounting and financial reporting impacts of the economic crisis created by the coronavirus (COVID-19), and the changes made by the 2020 CARES Act including accounting for Paycheck Protection Program (PPP) loans and forgiveness.

Topics include: Disclosures of risks and uncertainties; going-concern reporting and disclosure issues; impairment issues related to goodwill and other long-lived assets; accounting for variable consideration revenue and onerous contracts; dealing with inventory costs and stock market investment losses; collectability of trade receivables; exit and termination benefit obligations; contingencies, and accounting and auditing engagement matters. With respect to the CARES Act, the course discusses the accounting for PPP loans and forgiveness, accounting for tax changes made by the CARES Act, and more.

Recommended CPE hours:

2 hours accounting

2 hours auditing

Applicable Professions:

  • Other
  • Nonprofit Professional
  • Enrolled Agent
  • CPA - small firm
  • CPA - medium firm
  • CPA - large firm
  • CFP
  • CFO / Controller
  • Bookkeeper
  • Attorney


General understanding of accounting, financial reporting, auditing and compilation and review standards.

Advanced Preparation:


Presented By:

Steven C Fustolo, CPA, MBA

Mr. Fustolo is a partner with the Boston CPA firm of James J. Fox & Company and Director of the National Tax Institute, Inc. He is a frequent lecturer and author of numerous tax and accounting issues affecting closely held businesses. An AICPA author, Mr. Fustolo’s articles are regularly featured in The Practical Accountant and other publications. He is the author of Practice Issues: Compilation and Review, Accounting and Auditing Reference Guide, Everything You Never Wanted to Know About GAAP, Enron: Fraud, Deception and the Aftermath, FASB Review for Industry, and FASB, SSARS and SAS Update and Review and numerous other books and manuals that have been published by Practitioners Publishing Company (PPC) and Commerce Clearing House (CCH).

Steven C Fustolo, CPA, MBA

Empowering CPA Professionals with Quality Online CPE Courses is a leading provider of online CPE Courses for CPA professionals. Every accounting professional will be required to have a certain amount of CPE credits to retain their certification. The ultimate goal of our website is to provide state of the art interactive self-study courses for general practitioners, licensed professionals, CPA.s, and other individuals who need to take quality CPA continuing education courses that fully meet NASBA/AICPA state standards that are in place. Our CPE continuing professional education courses at are much more comprehensive than courses that are offered by similar websites, and they are comparable in price as well.

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Course Details:

$39.95 USD

Instructional Method: QAS Self Study

Subject Area: Accounting

Credits: 4.00

Duration: 4 Hours

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