PPP Loan Forgiveness Effects – Case Studies and Q&A

CPE Credits: 1

Knowledge Level: Basic

Pre-requisites: No prerequisite courses; however, the webinars on Effects of PPP Loan Forgiveness on A/E Firm Overhead Rates, Part 1 and Part 2, provide important background information. Recorded versions of these webinars can be purchased and watched at any time.

After completing the webinar, participants should be able to:

• Describe the expected treatment of PPP loan forgiveness under FAR Part 31 and the related effects on government contracts for 2021 and future years
• Explain the effects of timing of PPP loan forgiveness on the GAAP and FAR basis accounting treatment
• Discuss recommended audit procedures and overhead audit report disclosures for PPP loans and related forgiveness

Join us for this 1-hour webinar where instructor Dan Purvine will provide end-of-year updates and insights on the effects of PPP loan forgiveness on A/E firm overhead rates.  The webinar will include case studies to illustrate the effects of loan forgiveness on the overhead rate, including the impacts of the timing of the loan forgiveness.  Dan will also provide examples of the potential impact on government contracts, and an update on industry efforts to address those issues.  Topics will include recommended audit procedures and audit report disclosures for CPAs performing overhead audits.  Dan will also provide more detailed analysis of challenging questions submitted in earlier PPP loan forgiveness webinars.  If your firm or audit client received a PPP loan, this issue is sure to affect you, so don’t miss this timely and important webinar!