TQA for New COVID-19 Funds

TQA for New COVID-19 Funds

The AICPA has issued a TQA addressing questions about how for-profit and nonprofit entities account for the new restaurant revitalization and shuttered venue grants that have been received by many organizations. As there is no on point GAAP for for-profit entities, the TQA provides examples of guidance that can be applied by analogy.

Fraud & COVID – A 2020 ACFE Report

Fraud & COVID – A 2020 ACFE Report

We all know that COVID is impacting businesses in more ways than one. Unsurprisingly, we’ve seen an uptick in fraud during the COVID era. The ACFE has issued its September 2020 report providing interesting insights into fraud during COVID and expectations for...
AICPA Issued Technical Q&A for CARES Act Accounting

AICPA Issued Technical Q&A for CARES Act Accounting

The AICPA has issued a Technical Q&A to provide guidance on how nongovernmental entities should account for monies received under the CARES Act. The Q&A addresses questions related to how to account for the forgiveable portion of the PPP loans. GASB has issued a separate exposure draft addressing accounting for governmental entities.

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