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Updates on PPP, Goodwill Impairment, and Materiality
In this report, we discuss recent IRS releases on treatment of qualifying expenses related to a PPP loan, a recent proposal tentatively decided on by FASB related to trigger-based goodwill impairments, and our recommendation for firms to early adopt SAS 138.In this report, we discuss recent IRS releases on treatment of qualifying expenses related to a PPP loan, a recent proposal tentatively decided on by FASB related to trigger-based goodwill impairments, and our recommendation for firms to early adopt SAS 138.