PODCAST

KPMG Financial Reporting Podcast: CARES Act

Implications of the CARES Act on income taxes, financial instruments and more.

Brian Fields

Brian Fields

Partner, Dept. of Professional Practice, KPMG US

+1 212-872-3397

Kayreen Handley

Kayreen Handley

Partner, Dept. of Professional Practice, KPMG US

+1 212-954-8288

Scott McLucas

Scott McLucas

Managing Director, Government Affairs, KPMG US

+1 202-533-3994

Robert Sledge

Robert Sledge

Partner, Dept. of Professional Practice, KPMG US

+1 212-872-6481

Podcast overview

In this 30-minute podcast, specialists from KPMG’s Government Affairs and Department of Professional Practice discuss some of the financial reporting implications of the Coronavirus Aid, Relief, and Economic Security (CARES) Act on income taxes, financial instruments and more.

Applicability

  • All companies

Relevant dates

  • Effective immediately

Podcast contents

  • 01:15 – Overview of the Act, how it came into being and how it compares to the 2008 landscape
  • 04:45 – The key tax provisions and how they affect the accounting for income taxes
  • 10:50 – The broad categories of other relief and the accounting implications: government financing; relief from applying GAAP; and grant-type assistance
  • 20:10 – What to expect next