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Accounting and Financial Reporting: COVID-19, CARES Act, and PPP

Accounting and Financial Reporting: COVID-19, CARES Act, and PPP The objective of this course is to review the impact that COVID-19 has on accounting and financial reporting, and the changes made by the 2020 CARES Act, and the Consolidated Appropriations Act, 2021, 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; collectibility of trade receivables; exit and termination benefit obligations; contingencies; and accounting and auditing engagement matters. The course also discusses the accounting for PPP loans and forgiveness, and the accounting for tax changes made by the CARES Act and Consolidated Appropriations Act, and more.

Course Info:

  • Course #: 2135B
  • Delivery: Self-Study
  • CPE Hours: 4
  • Course Level: Basic
  • Prerequisites: None
  • Advanced Preparation: None
  • NASBA Area of Study: 2 Accounting, 2 Auditing
  • Total Pages: 127
  • Questions: 20

Course Objectives

Table of Contents

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