PERSPECTIVE AND ISSUES
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 ...