Professional Research: FASB CodificationAs the new staff person in your company's treasury...

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Professional Research: FASB Codification As the new staff person in your company's treasury department, you have been asked to conduct research related to a proposed transfer of receivables. Your...

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Professional Research: FASB Codification
As the new staff person in your company's treasury department, you have been asked to conduct research related to a proposed transfer of receivables. Your supervisor wants the authoritative sources for the following items that are discussed in the securitization agreement.
Instructions
If your school has a subscription to the FASB Codification, go to http://aaahq.org/asclogin.cfm to log in and prepare responses to the following. Provide Codification references for your responses.

(a)

Identify relevant Codification section that addresses transfers of receivables.

(b)

What are the objectives for reporting transfers of receivables?

(c)

Provide definitions for the following:


1.	Transfer.

2.	Recourse.

3.	Collateral.

(d)

Provide other examples (besides recourse and collateral) that qualify as continuing involvement.

005_hryla5o-uzealooy.doc

Answered Same Day Dec 25, 2021

David · Accepted Answer

Instructions 
If your school has a subscription to the FASB Codification, go to 
http://aaahq.org/asclogin.cfm to log in and prepare responses to the following. 
Provide Codification references for your responses. 
a) Identify relevant Codification section that addresses transfers of 
receivables. 
The objectives related to transfer has been stated in (FASB ASC 860-10-10) 
Transfer of receivables has been addressed in FASB ASC 860-10
The statement has been addressed in Statement of Financial Accounting Standards No. 
140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of 
Liabilities
(b)    What are the objectives for reporting transfers of receivables?

Professional Research: FASB Codification As the new staff person in your company's treasury department, you have been asked to conduct research related to a proposed transfer of receivables. Your...

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