AICPA Issues Technical Q&As
July 1, 2020
The AICPA has issued technical Q&As related to (1) loan restructuring under COVID-19 and (2) the Paycheck Protection Program (PPP).
Technical Q&A Section 2130.41 provides guidance on determining the effective interest rate, while Technical Q&As Sections 2130.42–.44 provide guidance on certain accounting matters for lenders under the PPP.
For more information, see the AICPA’s Web site.