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Coronavirus: PPP loans and revolvers with a fluctuating borrowing base

FINANCIAL REPORTING INSIGHTS  | 

We have updated our white paper, Coronavirus: Financial reporting considerations, to address the following two topics that may affect an entity’s financial statements: 

  • Accounting by borrowers for loans under the Paycheck Protection Program (PPP), which was established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act 
  • Classifying a revolving credit agreement (i.e., a revolver) with a fluctuating borrowing base, which is the maximum amount that can be borrowed under the revolver by the borrower

For these and many other topics entities should consider when preparing financial statements affected by the coronavirus pandemic, see our white paper, Coronavirus: Financial reporting considerations

The financial reporting considerations related to the coronavirus pandemic are continuing to evolve. This white paper will continue to be updated periodically as developments warrant. For additional resources related to the coronavirus pandemic, PPP loans and the CARES Act, visit our Coronavirus Resource Center.

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