Paycheck Protection Program (PPP) Loans
This tutorial examines not-for-profit revenue recognition after the eight-week compliance period, subsequent events, and balance sheet categorization.
GASB Issues New Guidance In Light of COVID-19
In response to the pandemic, the Governmental Accounting Standards Board has issued a new statement that extends implementation for most major standards by one year. Recently issued Implementation Guide 2020-1 reinforces delayed effectives dates and provides updated guidance.
President Vetoes Congressional Rebuke of Borrower Defense Rules
President Donald Trump has vetoed Congress’ attempt to overturn controversial changes to borrower defense regulations made by the Department of Education last fall. NACUBO expects the borrower defense rule to take effect on July 1.