Accounting for SVOG & RRF
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Accounting for SVOG & RRF

1 year ago · 17 min watch

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The COVID-19 pandemic has impacted a significant number of businesses across the country. In response, a number of economic recovery programs were launched. Two of them are the Shuttered Venue Operators Grant (SVOG) and Restaurant Revitalization Funds (RRF) designed to help two highly impacted industries. As these are new programs, there have been questions about how to account for them. Join Robert Durak, CPA, Director – Private Company Financial Reporting, and Kari Hipsak, CPA, CGMA, Senior Manager – Firm Services for:

  • An overview of the SVOG and RRF programs including eligible entities and eligible expenses

  • A look at primary accounting considerations for SVOG & RRF

    • There is no authoritative guidance

    • AICPA issued TQA 5270.01:

      • For-profit entities can use IAS 20, FASB ASC 958-605, or FASB ASC 450-30

      • Non-profit entities can use FASB ASC 958-605 for SVOG only

The slides for this presentation are also available as a download.

Download the Accounting for SVOG & RRF

File name: accounting-for-svog-and-rrf.pdf

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