- NY Credits : 1.0
- TX Credits : 1.0
In this course, Russ Madray, CPA examines different models to account for loans administered under the PPP Program resulting from legislation associated with the CARES Act and the Economic Aid Act. While the debt model under ASC 470 applies to all types of entities, there are other accounting models that may be used by entities depending on the facts and circumstances. These models include the gain contingency model, an NFP model, and the IAS 20 model. This course is well suited for practitioners at all levels and for whom PPP loans and loan forgiveness are of interest. It does not cover the legal or tax implications associated with these loans or their forgiveness. Neither does it address loan application or forgiveness.
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
identify different models to account for loans issued under the PPP program, and
determine the financial statement impacts of accounting for these loans under the different models.