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CARES Act: Accounting for the stimulus (updated July 16, 2020)
In depth , PwC US Jul 16, 2020
At a glance
The Coronavirus Aid, Relief, and Economic Security (CARES) Act became law on March 27. It was a response to the market volatility and instability resulting from the coronavirus pandemic, and includes provisions to support individuals and businesses in the form of loans, grants, and tax changes, among other types of relief.
This In depth answers questions regarding the accounting and disclosure implications of certain of the provisions in the stimulus package. Provisions addressed include: relief from certain accounting guidance; tax code changes; below-market loans; and other programs that essentially provide government assistance to businesses.
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