Wiley GAAP: Financial Statement Disclosure Manual

63ASC 860 TRANSFERS AND SERVICING

1. Authoritative Literature
   1. Subtopics
   2. Scope and Scope Exceptions
   3. ASC 860‐10, Overall
      1. Conditions for a Sale of a Financial Asset
   4. 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
   5. ASC 860‐30, Secured Borrowing and Collateral
   6. ASC 860‐50, Servicing Assets and Liabilities
      1. Interests Retained by the Transferor
      2. The Nature of Servicing
   7. Securitizations
      1. Repurchase Agreements
      2. Accounting for Collateral
2. Practice Alert
3. Presentation and Disclosure Requirements
   1. ASC 860‐10, Overall
   2. ASC 860‐20, Sales of Financial Assets
   3. ASC 860‐30, Secured Borrowing and Collateral
   4. ASC 860‐50, Servicing Assets and Liabilities
4. Presentation and Disclosure Examples
   1. Example 63.1: Receivables Securitization Program
   2. Example 63.2: Accounting Policy for Receivables Sold Under Receivable Securitization Facilities and Receivables Sales Facilities
   3. Example 63.3: Accounting Policy for Cash Flows
   4. Example 63.4: Accounting Policy for Factoring Arrangements
   5. Example 63.5: Lines of Credit
   6. Example 63.6: Mortgage Servicing Rights

AUTHORITATIVE LITERATURE

Transfers with continuing involvement raise questions about whether the assets have been sold or remain as assets. (ASC 860‐10‐05‐4) ASC 860 describes the proper accounting for sales of financial assets to third parties and the use of financial assets as collateral in secured borrowings. ...