COVID-19 Accounting Tutorials

Congress’s multi-phase response to the coronavirus pandemic 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.

Explore NACUBO’s COVID-19 general guidance resources.

2022 Tutorials

Address quarterly and annual reporting required in 2022.

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), respectively)).

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.

Have a Question?

Ask the Expert

For NACUBO Members Only

Learn More

FASB Issues Proposed Guidance on Crypto Assets

FASB recently issued a proposed Accounting Standards Update addressing the accounting for and disclosure of crypto assets.

Meet NACUBO’s Accounting Principles Council Chair

Chad Greenwell, associate controller at the University of Michigan, provides insight into accounting and reporting, including his role on a GASB task force looking at going concern guidance.

Department of Education Seeks No-Cost Extension for HEERF Funds

The Department of Education will make a no-cost extension form available to grantees needing up to an additional 12 months to spend remaining HEERF balances.