How Can Borrowers Account for PPP Loans? by Whitney Schiffer, CPA
Posted on January 21, 2021 by Whitney Schiffer
As businesses and nonprofits close their books for 2020, those that received SBA-backed Paycheck Protection Program (PPP) loans must now consider how they will account for those funds on their end-of-year financial statements. Absent specific reporting requirements from the SBA or the IRS, borrowers can instead rely on technical guidance issued by organizations that include […]