In the event that a debtor provides previously created an insurance policy so you can be the cause of authorities grants, it should first consider whether or not one bookkeeping rules enforce so you’re able to PPP financing (such as, a healthcare entity one previously used the pointers within the ASC 450-31 so you can be the cause of costs acquired to own digital health-list technical beneath the Western Data recovery and you may Reinvestment Operate out of 2009).
not, a debtor may also build an accounting rules election to provide the PPP financing because a timeless credit