Accounting for Transfers of Financial Assets
Financial Institutions
July 01, 2010
by
Brett Schwantes, CPA
In June 2009, the Financial Accounting Standards Board (FASB) issued Financial Accounting Standard (FAS) No. 166, Accounting for Transfers of Financial Assets, which was later codified in the Accounting Standards Codification (ASC) Topic 860. This standard changes accounting practices in a number of ways, but it primarily affects community institutions when accounting for loan participations sold.
Average Rating:
Length: 1 pages (PDF 53 kB)