Wiley GAAP 2021, 2nd Edition

63ASC 860 TRANSFERS AND SERVICING

1. Perspective and Issues
   1. Subtopics
   2. Scope and Scope Exceptions
   3. Overview
2. Definitions of Terms
3. Concepts, Rules, and Examples
   1. ASC 860‐10, Overall
      1. Conditions for a Sale of a Financial Asset
      2. Exchange of One Form of Beneficial Interest for Another
      3. Isolation of Transferred Financial Interests
      4. Isolation of Transferred Assets
      5. Transference of Rights to Pledge or Exchange Transferred Financial Assets
      6. Meaning of “Participating Interest.”
   2. Transferor’s Right to Pledge or Exchange Transferred Financial Assets
      1. Effective Control through Both a Right and an Obligation
      2. Transfers of Receivables with Recourse
      3. Example of Accounting for the Transfer of Receivables with Recourse
   3. ASC 860‐20, Sales of Financial Assets
      1. Measuring Assets and Liabilities after Completion of a Transfer
      2. Sale of a Participating Interest
      3. Sale of an Entire Financial Asset or Group of Entire Financial Assets
      4. Accrued Interest Receivable
   4. ASC 860‐30, Secured Borrowing and Collateral
   5. ASC 860‐50, Servicing Assets and Liabilities
      1. Interests Retained by the Transferor
      2. Example—Sale of Partial Interest in Receivables
      3. Example—Sale of Loans with Various Types of Retained Interests
      4. The Nature of Servicing
      5. Accounting for Servicing
      6. Example—Sale of Receivables with Servicing Asset Retained by Transferor
      7. Example—Sale of Receivables with Servicing Liability Retained by Transferor
      8. Amortization Method—Measurement of Impairment or Increased Obligations
      9. Example—Sale of Receivables with Servicing Asset Retained ...