In accordance with ASC 205-40, at each annual and interim reporting period, management must evaluate whether there are conditions and events (that raise substantial doubt about an entity’s ability to...
On May 15, 2020, the Small Business Administration (SBA) released the Paycheck Protection Program Loan Forgiveness Application with instructions. This application provides insight into how the SBA expects lenders to...
The management of public companies are responsible for maintaining a strong internal environment, including implementing and executing well-designed controls, and applying timely remedial actions on control issues identified. Although the...
In accordance with ASC 205-40, in preparing financial statements for each annual and interim reporting period, management must evaluate whether there are conditions and events (e.g. COVID-19 crisis) that raise...
On April 24th, President Trump signed the $484 billion Paycheck Protection Program and Health Care Enhancement Act which supplements the $2 trillion bipartisan Coronavirus Aid, Relief, and Economic Security (CARES)...
The Financial Accounting Standards Board (FASB) has been actively involved in evaluating the impacts of the Coronavirus Disease 2019 (COVID-19) pandemic on the accounting related to ASC 842, Leases (ASC...