Accounting Guidance for PPP Loans

In Ohio, nearly 150,000 loans were made to small businesses under the federal Paycheck Protection Program (PPP). Currently there is no specific guidance in U.S. generally accepted accounting principles (GAAP) that addresses when a business entity obtains a loan that is forgivable by a government entity.

OMA Connections Partner RSM has prepared this white paper to provide borrowers with accounting guidance for PPP loans. 9/1/2020