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
Prerequisites:
General understanding of accounting, financial reporting, auditing and compilation and review standards.
Advanced Preparation:
None
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).
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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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