Yet not, a borrower can also generate an accounting plan election presenting the new PPP financing as a traditional credit

In the event the a borrower provides prior to now based an insurance policy to help you make up authorities provides, it should consider first whether you to bookkeeping policy applies so you can PPP financing (including, a health entity that prior to now used the fresh new information in the ASC 450-31 so you’re able to be the cause of costs gotten to have electronic health-number tech under the American Recuperation and Reinvestment Operate regarding 2009).