Chapter 50
Financial instruments: Derecognition
3 Derecognition – Financial Assets
3.2.1 Importance of applying tests in sequence
3.3 Derecognition principles, parts of assets and groups of assets
3.3.1 Credit enhancement through transferor’s waiver of right to future cash flows
3.3.2 Derecognition of groups of financial assets
3.3.2.A The IASB’s view and the Interpretations Committee’s tentative conclusions
3.3.2.B What are ‘similar assets’?
3.3.3 Transfer of asset (or part of asset) for only part of its life
3.3.4 ‘Financial asset’ includes whole or part of a financial asset
3.4 Have the contractual rights to cash flows from the asset expired?
3.4.1 Renegotiation of an asset’s terms
3.5 Has the entity ‘transferred’ the asset?
3.5.1 Transfers of contractual rights to receive cash flows
3.5.1.A Meaning of ‘transfers the contractual rights to receive the cash flows’
3.5.1.B Transfers subject to conditions
3.6.2 Short-term loan facilities
3.6.4 Treatment of collection proceeds
3.6.5 Transfer of a group of assets not all of which are derecognised
Get International GAAP 2013: Generally Accepted Accounting Principles under International Financial Reporting Standards now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.