PPP loan accounting: FAQs related to not-for-profits

Since the start of the pandemic the CPEA has received numerous questions from practitioners on how to account for the loans received from the Small Business Administration as part of the Paycheck Protection Program. While there are some similarities between the accounting for not-for-profit and for-profit entities, there are also key differences that NFPs and practitioners who serve those clients need to be aware of. Among the frequently asked questions that we address