If the a borrower has actually previously situated an insurance policy in order to take into account government grants, it has to first consider whether that bookkeeping coverage enforce to PPP loans (for instance, a medical entity one prior to now applied the latest suggestions from inside the ASC 450-30 so you’re able to account fully for costs obtained to own digital health-number technology according to the Western Recuperation and you may Reinvestment Act out-of 2009). Continue reading
not, a borrower may also build an accounting rules election to provide the latest PPP loan as a classic borrowing
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