In a new article from the Journal of Accountancy, author Ken Tysiac states, “Eligible financial institutions will not be in violation of GAAP if they take advantage of the deferrals or suspensions of two FASB standards as permitted in the new federal coronavirus relief law, SEC Chief Accountant Sagar Teotia said Friday in a statement issued by the commission.”
https://www.bradymartz.com/wp-content/uploads/2020/04/AdobeStock_188272461-scaled.jpeg 1707 2560 Brady Martz https://www.bradymartz.com/wp-content/uploads/2018/01/brady-martz-logo-green.png Brady Martz2020-04-09 17:29:432020-04-10 13:17:15Financial Institutions Using CARES Act Deferrals Won’t Violate GAAP
All information is based on our current understanding as of the date that it is posted. Please keep in mind this information is changing rapidly – it can and likely will change. Some information becomes outdated the same date it posted. Although we will monitor and update this page as new information becomes available, please do not rely solely on this page. We encourage you to contact your Brady Martz advisor for the latest information.