Centri Insights

06/29/2020

Exit or Disposal Activities Due to COVID-19

Due to market conditions stemming from COVID-19, entities may choose to sell...

06/22/2020

FASB Provides Optional Relief for Contracts and Transitions Affected by Reference Rate Reforms

The FASB issued ASU 2020-04, Reference Rate Reform (ASC 848): Facilitation of...

06/18/2020

New PPP Loan Forgiveness Applications Released

As of June 17th, 2020, the Paycheck Protection Program has approved approximately...

06/15/2020

SEC Amends Financial Disclosures about Acquired and Disposed Businesses

On May 21, 2020, the SEC issued final rules that amend the...

06/09/2020

Borrower’s Accounting for Paycheck Protection Program Loans

On March 27, 2020, President Trump signed into law the Coronavirus Aid,...

06/08/2020

SBA Releases PPP Loan Changes

On June 5, 2020, President Donald Trump signed the Paycheck Protection Program...

06/02/2020

Outsourced Accounting Considerations

As the economy slowly recovers from COVID-19, small businesses will face a...

05/27/2020

FASB Approves Deferral of Leasing and Revenue Standards for Certain Private Companies

At its May 20, 2020 meeting, the FASB voted to approve the...

05/26/2020

ICFR Considerations for Smaller Reporting Companies for Management

In March 2020, the Securities Exchange Commission (SEC) amended its rules to...

05/20/2020

Internal Control Implications on Going Concern Analysis

In accordance with ASC 205-40, at each annual and interim reporting period,...

05/20/2020

SBA Releases PPP Loan Forgiveness Application

On May 15, 2020, the Small Business Administration (SBA) released the Paycheck...

04/26/2020

COVID-19 Impacts on Going Concern Assessments

In accordance with ASC 205-40, in preparing financial statements for each annual...