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Nonprofit Organizations: Accounting for Interest-Free Loans

This blog and referenced guidance is not applicable to loans obtained under the Payroll Protection Program (PPP). See this blog for further guidance. Nonprofit organizations often receive loans that are interest free. Because these are not normally obtainable through traditional financing options, the American Institute of Certified Public Accountants (AICPA) believes a restricted contribution element […]
April 24, 2020

Is PPP Loan Forgiveness a “Credit” on Federal Contracts?

On April 17th, Defense Pricing and Contracting (DPC) updated its Frequently Asked Questions. The latest Q&A on Payroll Protection Program (PPP) small business loans “somewhat” aligns with recent advice in our blog, with regards to the treatment of PPP loan forgiveness, as well as other credits. The following is included in the updated DPC FAQ […]
April 20, 2020