Accounting for Transfers of Financial Assets

Author: Miles Hutchinson

CPE Credit:  2 hours for CPAs

A transfer of financial assets is one of the broad transactions to which the FASB Accounting Standards Codification (ASC) devotes an entire topic: ASC 860, Transfers and Servicing. ASC 860 also addresses the accounting for rights and obligations related to servicing of financial assets—an obligation that may be undertaken as part of (or independent of) a transfer of the related financial assets. This CPE course addresses generally accepted accounting principles (GAAP) for transfers of financial assets. It reflects the FASB Codification through the issuance of FASB Accounting Standards Update (ASU) No. 2014-11, Transfers and Servicing (Topic 860) – Repurchase-to-Maturity Transactions, Repurchased Financings, and Disclosures (Issued June 12, 2014).

Presented by Miles Hutchinson.

Publication Date: February 2019

Designed For
Accounting professionals and CPAs

Topics Covered

  • Scope and Unit of Account
  • Conditions for Sale Accounting
  • Transfer Accounted for as a Sale
  • Financial Assets Subject to Prepayment
  • Servicing
  • Transfer NOT Accounted for as a Sale
  • Repurchase Agreements and Financings
  • Disclosures

Learning Objectives

  • Identify the scope and unit of account applied to transfers of financial assets
  • List the conditions that must be met for a transfer to be accounted for as a sale
  • Explain the accounting required when a transfer meets the conditions for a sale and when it does not
  • Restate the objectives for disclosures about transfers of financial assets
  • Identify the effective date of the additional disclosures with respect to repurchase agreements


Instructional Method

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites

Advance Preparation

Registration Options
Regular Fee $55.00

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