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Financial asset transfers – Accounting fundamentals
In this episode, we focus on transfers of financial assets. The discussion breaks down the fundamentals of ASC 860, clarifies when a transfer qualifies as a sale versus a secured borrowing, and outlines the key criteria for derecognition.
In this episode, we discuss:
0:59 – Overview of ASC 860 and the basics of financial asset transfers
3:35 – Transactions subject to ASC 860
6:56 – Transfer of an entire versus a portion of a financial asset and application of the participating interest guidance
11:12 – Control criteria to achieve sale accounting:
11:53 – Legal isolation
16:38 – Right to…
The skinny
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