Government Contractors Roundtable Discussion: Understanding DCAA’s MRD – How Do Credits Impact Contracts with PPP Loans?
Description
As a result of the CARES Act, contractors that receive forgiveness for Payroll Protection Program (PPP) loans will treat the proceeds differently for cost reimbursable (CPFF) contracts, versus firm fixed price, T&M and commercial contracts. We will discuss portions of DCAA’s MRD FAQ on the application of credits in different scenarios.
Speakers:
Steven L. Shamlian, President, Government Contract Compliance Management, LLC
Paul H. Calabrese, Principal, Outsourced Accounting & Advisory Services, GRF
Learning Objectives
Understanding the purpose and use of FAR Part 31 credits
Obtaining information on DCAA’s position regarding PPP loan proceeds
Learning when to apply credits to PPP loan proceeds
Major Topics
FAR Part 31.201-5 on credits
Forgiven PPP loan proceeds
Application of credits to different types of contracts
Provider
Maryland Association of CPAs
Course Level
Intermediate
Professional Area of Focus
Government
CPE Field of Study
Accounting (Governmental)
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Who Should Attend
Financial, tax, and accounting professionals who work with government contracts
