Accounting for Financial Assets and Liabilities (2007)Topics and Contents |
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| PART I: STATEMENT 140 INTERPRETATIONS |
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| Overview of Statement 140 |
| Paragraphs 1-8: Introduction and Scope |
| Paragraphs 9-12: Accounting for Transfers and Servicing of Financial Assets |
| Paragraph 13: Recognition and Measurement of Servicing Assets and Liabilities |
| Paragraph 14: Financial Assets Subject to Prepayment |
| Paragraph 15: Secured Borrowings and Collateral |
| Paragraph 16: Extinguishments of Liabilities |
| Paragraph 17: Disclosures |
| Paragraph 18: Implementation Guidance |
| Paragraphs 19-25: Effective Date and Transition |
| Paragraph 26: Appendix A - Implementation Guidance: Introduction |
| Paragraphs 27-28: Isolation Beyond the Reach of the Transferor and Its Creditors |
| Paragraphs 29-31: Conditions That Constrain a Transferee |
| Paragraphs 32-33: Transferor’s Rights or Obligations to Reacquire Transferred Assets |
| Paragraph 34: Conditions That Constrain a Holder of Beneficial Interests in a Qualifying Spe |
| Paragraph 35: Qualifying SPE |
| Paragraph 36: Need to Be Demonstrably Distinct From the Transferor |
| Paragraphs 37-38: Limits on Permitted Activities |
| Paragraphs 39-41: Limits on What a Qualifying SPE May Hold |
| Paragraphs 42-45: Limits on Sales or Other Dispositions of Assets |
| Paragraph 46: Qualifying SPEs and Consolidated Financial Statements |
| Paragraphs 47-49: Agreement to Repurchase or Redeem Transferred Assets |
| Paragraphs 50-54: Ability to Unilaterally Cause the Return of Specific Transferred Assets |
| Paragraph 55: Changes That Result in the Transferor’s Regaining Control of Assets Sold |
| Paragraph 56: Assets Obtained and Liabilities Incurred As Proceeds |
| Paragraph 57: Illustration - Recording Transfers With Proceeds of Cash, Derivatives, and Other Liabilities |
| Paragraphs 58-59: Retained Interests |
| Paragraph 60: Illustration - Recording Transfers of Partial Interests |
| Paragraphs 61-64: Servicing Assets and Liabilities |
| Paragraphs 65-66: Illustration - Sale of Receivables With Servicing Retained |
| Paragraph 67: Illustration - Recording Transfers of Partial Interests With Proceeds of Cash, Derivatives, Other Liabilities, and Servicing |
| Paragraphs 68-70: Fair Value |
| Paragraph 71: If It Is Not Practicable to Estimate Fair Values |
| Paragraph 72: Illustration - Recording Transfers If It Is Not Practicable to Estimate Fair Value |
| Paragraphs 73-76: Securitizations |
| Paragraphs 77-79: Revolving-Period Securitizations |
| Paragraphs 80-84: Isolation of Transferred Assets in Securitizations |
| Paragraphs 85-88: Removal-Of-Accounts Provisions |
| Paragraph 89: Sales-Type and Direct Financing Lease Receivables |
| Paragraph 90: Illustration - Recording Transfers of Lease Financing Receivables With Residual Values |
| Paragraphs 91-94: Securities Lending Transactions |
| Paragraph 95: Illustration - Securities Lending Transactions Treated As a Secured Borrowing |
| Paragraphs 96-101: Repurchase Agreements and Wash Sales |
| Paragraphs 102-103: Loan Syndications |
| Paragraphs 104-106: Loan Participations |
| Paragraphs 107-110: Banker’s Acceptances and Risk Participations in Them |
| Paragraph 111: Illustration - Banker’s Acceptance With a Risk Participation |
| Paragraph 112: Factoring Arrangements |
| Paragraph 113: Transfers of Receivables With Resources |
| Paragraph 114: Extinguishments of Liabilities |
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| PART II: FUTURE EXPECTATIONS AND PROJECTS |
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| Recent Developments |
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| PART III: APPENDICES |
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| Appendix I: Statement 125 Interpretations With Continuing Relevance |
| Appendix Ii: Consolidation of Variable Interest Entities, Including SPEs |
| Appendix Iii: Aicpa Literature Discussing Legal Opinion Requirements for Transactions Within the Scope of Statement 140 |
| Appendix Iv: Glossary |
| Appendix V: Index of Accounting Literature Cited |