This update provides a summary of some of the more important second quarter 2020 accounting and financial reporting activities for private companies. The content is not meant to be all-inclusive.
- Accounting guidance issued in response to COVID-19 pandemic
- FASB deferral of effective dates
- FASB Q&A: Lease accounting
- FASB Q&A: Hedge accounting
- AICPA guidance on accounting for paycheck protection program loans
- Standards issued in 2020
- Standards issued in prior years effective 2020 or after