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PPCs A&A Workpapers

Participant Loans

This workbook walks the participant loans balance forward from the prior year, provides analytical measures, and helps the auditor assess future collectability, in conformity with FASB ASC 962-310, which requires loans to participants to be classified in the statement of net assets available for benefits as notes receivable from participants and measured at their unpaid principal balances plus any accrued but unpaid interest.

Entering Data

Although not required, this workbook allows for documenting the original term of the note, the due date, and the stated interest rate. This information may be hidden or displayed by selecting the respective "Hide/Show note terms" button near the top of the Loan Inputs worksheet.
Also, this workbook includes automatic rollforward, clear workbook, and hide/show empty rows functionality. This functionality is simultaneously applied to all three worksheets. The Loan Inputs worksheet also utilizes conditional formatting and data validation to assist the user with proper data input. All of this functionality is also described in the “General Workpaper Functionality and Tips for Entering Data” section.
Data entry is also required on the Collectibility worksheet in order for the Loan Status Summary to calculate.