Keeping you informed and prepared amid the coronavirus crisis

The spread of the novel coronavirus presents serious concerns and challenges for many around the world. To help, below we’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos from the Journal of Accountancy. You can also read the latest news on advocacy and tax reliefthe CARES Act, and the Paycheck Protection Program.

The Association, the global voice of the American Institute of CPAs and the Chartered Institute of Management Accountants, is continually monitoring the impact of the coronavirus (COVID-19) on members, staff, exam candidates, students, and the profession. Visit this page on AICPA.org for updates and details about where to find the information you need.

COVID-19 news and resources

Guidance on how to take CARES Act distributions from qualified plans

The IRS released guidance on how taxpayers can take coronavirus-related distributions from qualified retirement plans as authorized by the CARES Act.

17 strategic questions to answer before reopening

Firms must consider strategic as well as practical issues as they reopen. These questions can help you think through some of these issues and point you toward ways to preserve positive changes made during the lockdowns.

New PPP loan forgiveness applications released

The U.S. Small Business Administration and Treasury released a revised loan forgiveness application for the Paycheck Protection Program that reflects recent changes made by Congress to make the program more borrower-friendly.

Pandemic considerations for EBP financial statements

The coronavirus pandemic has had a profound effect on employee benefit plan financial statements. Preparers and auditors need to carefully consider going concern implications, CARES Act implications and more.

How to deliver the news of furloughs and layoffs

Transparency and sensitivity are important when managers have to tell employees about job cuts, and these tips can help prepare you for that communication.

15 questions firm leaders should ask before returning to the office

Reopening your physical office is not a decision to take lightly. Here’s an overview of the many issues firm leaders need to consider when developing a plan to reopen.

Fed expands program to help large employers

The Federal Reserve will begin buying individual corporate bonds on the secondary market in a move designed to make more credit available for large employers.

Why accountants should embrace ‘More with Less’

Hard trends accelerated by the COVID-19 pandemic means that the mantra “More with Less” should become a rallying cry for the accounting profession. What does More with Less mean?

CFOs’ top 5 lessons for handling coronavirus crisis

Three experienced finance leaders share what they have learned and what they are doing to deal with turmoil and uncertainty.

PPP provides a lifeline, but more may be needed

With new guidance and extensions on use of funds, US businesses seek and find financial boosts in overall uncertain times.