March 2019
Intermediate to advanced
1440 pages
51h 20m
English
Content preview from Wiley GAAP 2019
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
63ASC 860 TRANSFERS AND SERVICING
PERSPECTIVE AND ISSUES
Subtopics
ASC 860 contains five subtopics: ASC 860-10, Overall
- ASC 860-20, Sales of Financial Assets
- ASC 860-30, Secured Borrowings and Collateral
- ASC 860-40, Transfers to Qualifying Special Purpose Entities
- ASC 860-50, Servicing Assets and Liabilities
Scope and Scope Exceptions
ASC 860 applies to transfers and servicing of noncash financial assets. A transfer includes:
- Selling a receivable,
- Transferring a receivable to a trust, or
- Using a receivable as security for a loan.
A transfer does not include:
- The origination of a receivable,
- The settlement of a receivable, or
- The restructuring of a receivable in a troubled debt restructuring.
(ASC 860-20-20)
Those transactions are transfers involving the issuer of the receivable.
Among the types of transfers of financial assets for which ASC 860 establishes standards are:
- Financial instruments
- Financial assets
- Collateral
- Transfers of receivables with recourse (factoring with recourse)
- Transfers of undivided partial interests in receivables (retained interests)
- Transfers of receivables with servicing retained
- Transfers of lease receivables under sales-type and direct financing leases and any related guaranteed residual
- Putting a receivable into a securitization trust
- Repurchase agreements
- Dollar rolls
- Securities lending transactions
- Posting a receivable as collateral
- Banker’s acceptances
ASC 860-10-15-4 excludes the following items from the scope of ASC 860:
- Except ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.