The coronavirus pandemic has disrupted companies’ capital project plans, not only this year but most likely for the foreseeable future. This five-step risk-modeling approach can help finance leaders identify company vulnerabilities and capital expenditure opportunities.
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Management accounting
AICPA urges SBA and OMB to reconsider PPP Loan Necessity Questionnaires
An AICPA letter suggests that the need for certain borrowers to complete a new form and provide extensive documentation supporting their request for relief funds be reconsidered and that other approaches be evaluated in assessing a borrower’s good faith certification.
Challenges, opportunities await energy sector after pandemic disruption
Energy producers are focusing on balance sheet strength and free cash flow as they recover from a severe blow dealt by the coronavirus pandemic.
Letters signed by AICPA raise concerns about PPP Loan Necessity Questionnaires
The AICPA is among 80 organizations that have signed a pair of letters to SBA, Treasury and congressional leaders calling on the agencies to temporarily suspend use of the new Paycheck Protection Program Loan Necessity Questionnaires.
How to apply COSO’s ERM framework to compliance risk management
A new publication provides guidance on how to apply the Committee of Sponsoring Organizations of the Treadway Commission’s enterprise risk management framework to manage and mitigate compliance risks.
Managing perceptions as a public-sector accountant
This article discusses ways those in public-sector finance can handle public perceptions of spending on things like travel and overtime without compromising on the work they need to do.
SBA to require PPP loan necessity form from large borrowers
Businesses and not-for-profits that received $2 million or more in PPP loans must complete one of two new loan necessity questionnaires the SBA is sending to lenders for distribution to borrowers.
Companies rethink the office, but they’re not ready to say goodbye
Most plan to keep their current real estate, but they are reimagining what that space could look like.
Unclaimed property: What is it, and what are the risks?
CPAs must follow proper policies and procedures to avoid state audits and steep penalties caused by noncompliance with unclaimed property regulations.
Fed opens up Main Street loans to smaller businesses
The Federal Reserve board announced that it lowered the minimum loan size for three of its Main Street Lending Program facilities in an effort to make the program available to more and smaller businesses.
Pandemic resilience starts with compassion, accountants say
Panelists at an AICPA fall Council presentation on resilience explained how basic values can drive success during troubled times such as the coronavirus pandemic.
COVID-19 lessons for not-for-profits
When services are needed most and when revenue is likely dropping, not-for-profit leaders face big challenges. A finance leader at an NFP shares adaptation advice.
SBA settles confusion over PPP forgiveness application due date
Fears of a late-October PPP surprise came to the SBA’s attention because the program’s loan forgiveness application forms display an expiration date of “10/31/2020” in the upper-right corner.
Consolidated group NOL rules are finalized
The IRS finalized regulations governing the treatment of net operating losses by consolidated groups after recent legislation changed the rules.
How 2020 has changed corporate board work
The lessons corporate directors take away from the pandemic will be critical to company survival and success beyond 2020. This podcast episode contains insight on board members’ thinking.
Audit committee cybersecurity disclosures rising in proxy statements
Disclosures around oversight of cybersecurity risk by audit committees are increasing in public company proxy statements, according to a yearly analysis released by the Center for Audit Quality and Audit Analytics. But other disclosures have leveled off in recent years.
PPP forgiveness simplified for loans of $50,000 or less
PPP borrowers of $50,000 or less will have the opportunity to apply for forgiveness using a simplified application. Under the new process, these borrowers will be exempted from penalties for reduction of full-time employees or employees’ salary or wages.
SBA clarifies deferral period for PPP loan payments
The SBA released guidance clarifying that lenders must recognize the previously established extended deferral period for payments on the principal, interest and fees on all Paycheck Protection Program (PPP) loans, even if the executed promissory note indicates only a six-month deferral.
PPP borrowers, lenders get change-in-ownership guidance from SBA
The US SBA issued a procedural notice designed to help PPP borrowers and their lenders understand their responsibilities when a borrower undergoes a change in ownership.
Recruiting top finance talent in the public sector
Prospective employees often seek more than just a hefty starting salary. Here’s how to fire up your hire power.
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