Updates to our guidance on accounting for loans and grants
Revised factsheet helps practitioners.
Following the recent announcements by the Chancellor in his Winter Economy Plan, businesses may be looking to alter the payment terms of their loans under the various coronavirus-related loan schemes.
This will necessitate certain changes in the accounting for these loans due to the loan terms being extended. Our previous factsheet on accounting for loans and grants has been updated to reflect these changes, which should make clearer to practitioners how to implement these within the financial statements of their affected clients.