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PPP Loans- Forgiven, But not Forgotten

3.8 (5)

Mark Dauberman, CPA (US)

Mark Dauberman

  • CPA/ABV
  • CFEs
  • CPA (US)
  • CVA

Published: July, 2021

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Before starting this self study program, please go through the instructional document.

Overview

  • 105 Generally Accepted Accounting Principles
    9 mins
  • Facts and Circumstances
    21 mins
  • US GAAP Topic 470
    34 mins
  • US GAAP Topic 450
    52 mins
  • IAS 20
    68 mins
  • US GAAP Topic 470-50 - Pros and Cons
    82 mins
  • IFRS - IAS 20 - Pros and Cons
    93 mins

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


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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
  • CPA in Business
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Testimonial

3.8

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CS

There is so much controversy about handling PPP Loan forgiveness that this seminar helped clarify. Time has passed with no direction for many months, and many financial statements are already issued. Further, banks have been so difficult to process applications for forgiveness. All these things have made this topic so uncertain for a long period of time.