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Coronavirus: Lender accounting for PPP loans

FINANCIAL REPORTING INSIGHTS  | 

We have updated our white paper, Coronavirus: Financial reporting considerations, to address the accounting by lenders for loans entered into under the Paycheck Protection Program (PPP). We discuss the lender’s accounting under the following subtopics and topic in the Financial Accounting Standards Board’s Accounting Standards Codification (ASC): 

  • ASC 310-10, “Receivables – Overall,” and ASC 310-20, “Receivables – Nonrefundable Fees and Other Costs,” for situations in which the lender has classified the loan as a loan held-for-investment or a loan held-for-sale 
  • ASC 825, “Financial instruments,” for situations in which the lender has elected to account for the loans under the fair value option 

Refer to the white paper for additional information about a lender’s accounting for PPP loans, as well as many other financial reporting issues related to the coronavirus pandemic.

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