PPP Loans- Forgiven, But not Forgotten

5 (2)

Mark Dauberman, CPA

Mark Dauberman

Monday, April 26, 2021 | 01:00 PM EDT

  • ABV
  • CPA
  • CVA
  • CFE
  • CMA

2 Credits

$20

Subject Area

Accounting

Webinar Qualifies For

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPE credit of Accounting for all CPAs

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 CPD credit (Verifiable) for CPA/ABV

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

Participants in the Payroll Protection Program (PPP) have been able to borrow at low-interest rates with the likelihood that some or all will be forgiven.  There has been a great deal of confusion over how to account for the loans and particularly forgiveness.  This online PPP webinar will provide an explanation of the accounting alternatives with examples involving full forgiveness, partial forgiveness, and repayment of amounts that will not be forgiven.

There is no authoritative guidance in the FASB Accounting Standards Codification, which is the only authoritative source of US GAAP.  In the case of PPP loans, the FASB has cited 4 possibilities. This CPE webinar for CPAs illustrates 3 different sets of circumstances each of the 4 alternatives.

This online CPE webinar covers following key topics:

  • Understanding PPP loans
  • Identifying alternative accounting approaches
  • Facts and Circumstances
  • Terms and terminology
  • Conditions related to illustrations
  • Forgiveness and possible unforgiven portion
  • US GAAP versus International Standards

Learning Objectives

  • To identify the common terms associated with PPP loans
  • To understand the accounting alternatives available applying GAAP
  • To learn how to record advances, interest accrual, forgiveness, and repayments
  • To evaluate what accounting approach is most appropriate in various circumstances

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Fraud Examiner
  • Certified Management Accountant
  • Certified Valuation Analysts
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Testimonial

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