Gentle Reminders for Times that Are Not
Gentle Reminders for Times that Are Not
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With the COVID-19 pandemic and resultant financial distress governments may be forced to consider and undertake extraordinary measures above and beyond cost containment. This article revisits the accounting rules that dictate how governments account for and report certain financing transactions that are designed to quickly provide additional cash, when reporting in accordance with generally accepted accounting principles (GAAP).
Publication Date: June 2020
Author: Michele Mark Levine
