COVID-19 Accounting Tutorials

Congress’s multi-phase response to the coronavirus crisis has resulted in many new federal programs that are meant to assist institutions and students. As with any federal program, funds provided have compliance, accounting, reporting, and recognition considerations. This library of accounting tutorials has been created for NACUBO members to address frequently asked questions. Each tutorial cites relevant FASB and GASB guidance and provides reference points to NACUBO’s Financial Accounting and Reporting Manual (FARM), the searchable, web-based, and free accounting manual for NACUBO members.

You can also explore NACUBO’s COVID-19 general guidance resources here. 

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Members Only

2021 Tutorials

Address Higher Education Emergency Relief Funds (HEERF I, II, and III( under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) and the American Rescue Plan Act (ARPA).

2020 Tutorials

Issued throughout the spring of 2020, these accounting tutorials address the types of costs that could be considered pandemic related, classifying HEERF emergency student grants as an expense, pro-rata and discount considerations for spring 2020 room and board refunds, the paycheck protection program and revenue recognition, employee retention credits and tax deferral programs, and pandemic related financial reporting.