Course Information

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FAS 140: Accounting for Sales, Transfers, and Servicing of Financial Assets and Extinguishments of Liabilities
Author: James F. Green, CPA

Description:
Accounting for sales, transfers, and servicing of financial assets and extinguishments of liabilities can be extremely complex. FASB Statement No. 140 replaces FASB Statement No. 125 and addresses these transactions. Additionally, Statement No. 140 has been amended by FASB Statement No. 155 and FASB Statement No. 156. We strongly recommend that users completing FASB 140 also complete the CCH Learning Center course “FASB 155: Accounting for Certain Hybrid Financial Instruments and FASB 156: Accounting for Servicing of Financial Assets."

Further guidance has been provided by the FASB's Emerging Issues Task Force (EITF), the AICPA's Auditing Issues Task Force, and the FASB Staff Implementation Guide. The quantity and complexity of the issues and guidance on these matters can be daunting.

This introductory course simplifies the difficult issues that continually arise for professionals planning for, implementing, and reviewing the accounting for such transactions.

It covers a broad range of transactions, including:

  • Collateralized borrowings
  • Sales and securitizations of receivables, loans, and securities
  • Servicing of financial assets
  • Securities lending transactions

Course Details:
Price:  $24.00
Field of Study:  Accounting
Prerequisites:  None
Level:  Overview
Advanced Preparation:  None
Course was last updated on:  04/13/09
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Library:
Learning Center Core
Accounting and Audit

Technical Requirements:
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Credit Available For: Units
CPE 2.0 CPE
QAS 2.0 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

User Reviews
Reviewer: WAROT, S. submitted on 03/04/2010
Information provided, test questions in between.
Reviewer: Brian K. submitted on 02/02/2010
n/A
Reviewer: Stuart C. submitted on 02/01/2010
Well organized
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