October 2014
Intermediate to advanced
1512 pages
57h 40m
English
book
Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015
by Joanne M. Flood
Content preview from Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015
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Chapter 18ASC 310 RECEIVABLES
Valuation Allowance for Uncollectible Amounts
Pledging, Assigning, and Factoring Receivables
ASC 310-20, Nonrefundable Fees and Other Costs
ASC 310-30, Certain Loans or Debt Securities Acquired in Transfers
Troubled Debt Restructuring, ASC 310-40
PERSPECTIVE AND ISSUES
Subtopics
ASC 310, Receivables, consists of four subtopics:
- ASC 310-10, Overall, which provides general guidance for receivables and has two subsections:
- General, which provides guidance on receivables in general and standby commitments to purchase loans, factoring arrangements, and rebates,
- Acquisition, Development, and Construction Arrangements, which provides guidance on whether a lender should account for the arrangement as a loan or as an investment in real estate or in a joint venture.
- ASC 310-20, Nonrefundable Fees and Other Costs, provides guidance on nonrefundable fees, origination costs, and acquisition costs associated with lending activities and loan purchases.
- ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, which provides guidance regarding loans acquired with evidence of deterioration of credit quality since origination acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect ...
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