In this session we will discuss the financial reporting options and nuances for PPP loans under the FASB ASC and for lease concessions due to COVID-19. The session will feature a deep dive into the nuances (including PPP loan derecognition) of the four models to account for PPP loans and the FASB Staff Q&A on COVID-19 lease concessions (both for entities using FASB ASC 842 and 840).
Analyze 4 models for financial reporting for PPP loans
Determine options for COVID-19 lease concessions
Technical Director - Center for Plain English Accounting,
AICPA/Barnes, Dennig & Co., Ltd