So, you’ve transferred a financial asset…or at least you thought you did…? ASC 860¸ Transfers and Servicing requires certain criterion to be met for a transfer to be accounted for as a sale. If these criterion are not met, then the “transfer” is a secured borrowing. The concept of “control” is key to determining how to account for a transfer under ASC 860. This course discusses common forms of transfers, how to identify them, concepts of control, and the accounting treatment.
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