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As things appear to be getting back to “normal” for the home building industry, it is important to understand how the U.S. government’s activities and responses over the last few months may impact our companies from an accounting perspective.
In a recent webinar, COVID-19: Impact of Policies and Regulations on the Home Building Industry, Steve Hays and Matt Beerbower, with RubinBrown, explored legislation and economic assistance available to the home building industry, suggestions on managing cashflows and using scenario analysis, and took s peak at what the new normal may look like for home builders going forward.
Read the highlights from the webinar below or watch the complete webinar on-demand.
Paycheck Protection Program Loans were part of the CARES Act passed in March of this year with the intention of assisting small businesses in response to the economic uncertainty brought on by COVID-19.
The webinar also included further detailed information about the SBA review, form 3508EZ, tax regulations and relief, financial accounting rules and relief, and credits available. Watch the recording for more information about these areas.
Cash is king! Managing cash flows is always important but may become more important than ever.
If you don’t have a plan now, you may want to consider using scenario planning to look at areas such as social, economic, political, and technological.
Some steps you can take when planning scenarios:
There are various ways to analyze your business including cash burn analysis, sensitivity analysis (Monte Carlo simulations), and enterprise risk management just to name a few.
The pandemic has caused businesses to change how they work now—with the interaction with customers, employees, and the way they do business—and may result in changes that last beyond COVID-19:
Watch the webinar recording for more information, and sign up for the RubinBrown newsletter to stay up to date on changes in policy.
The webinar is intended to give you an overview of issues and things to consider as you learn more about government regulations and how they apply to you. Make sure to talk to your accountant or another professional to get a deeper understanding of the specific regulation as it applies to your business.
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