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July 9, 2020 Article 10 min read
Download our second quarter 2020 update for an overview of important activities for private companies.
Business people meeting.

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.

Topics include:

  • 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

Archived accounting updates for private companies: