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.
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TOPICS
Management accounting
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.
What COVID-19 has taught corporate boards
Boards were meeting more regularly, more virtually, and getting more into the details on topics previously addressed only at a high level.
Companies use full array of tools to navigate the pandemic
Companies have used various means to expand credit, conserve cash and reduce tax burdens to combat the devastation of the pandemic. Here are some of the tactics that large public companies have used.
A data revolution, from hot dogs to fastballs
The director of accounting for the San Diego Padres explains how teams are adopting technology to improve the on-field product and the customer experience.
Safety of employees, customers ranks as top pandemic-related concern
A survey of U.S. finance decision-makers sheds light on the precautions businesses are taking and how they plan to address future office space needs.
PPP loan forgiveness: What CPAs should be doing now
The forgiveness aspect of the Paycheck Protection Program remains a source of uncertainty for CPAs. This collection of facts and frequently asked questions can help CPAs understand what to do amid the confusion.
New ESG reporting metrics released by World Economic Forum
Environmental, social and governance measures and disclosures released by the World Economic Forum are designed to make it easier for companies to benchmark their sustainable business performance.
Corporate governance in COVID-19: Cybersecurity and technology considerations
The coronavirus pandemic has resulted in a realignment of company strategies to enable success during these disruptive times. Some of these decisions — such as the sudden shift to remote work due to stay-at-home orders — have created additional risk corporate boards must consider.
AICPA urges passage of ‘PPP 2’ legislation
The AICPA issued a news release renewing the organization’s call for the swift passage of legislation to extend and expand the Paycheck Protection Program (PPP).
How public sector finance management can adjust to COVID-19
This article discusses ways local governments can maneuver during the COVID-19 squeeze, provide service to their communities, and prepare for an uncertain future.
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