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.
Steven L. Shamlian, President, Government Contract Compliance Management, LLC
Paul H. Calabrese, Principal, Outsourced Accounting & Advisory Services, GRF
- 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
- FAR Part 31.201-5 on credits
- Forgiven PPP loan proceeds
- Application of credits to different types of contracts
Maryland Association of CPAs
Professional Area of Focus
CPE Field of Study
Who Should Attend
Financial, tax, and accounting professionals who work with government contracts
Register for this Event
Government Contractors Roundtable Discussion: Understanding DCAA’s MRD – How Do Credits Impact Contracts with PPP Loans?