Transfers of Financial Assets

Second guessing if your “transfer” is really a “transfer” under ASC 860, Transfers and Servicing? Don’t worry, this CPE-eligible, eLearning course (1.0 CPE) will help clarify the guidance for identifying and accounting for transfers of financial assets! We will begin by discussing common forms of transfers before explaining the steps to identifying transfers. The concepts of legal control, actual control, and effective control will be explored to determine who has “control.” We’ll finish the course with the required accounting treatment based on who has control of the financial asset.

Topics covered in this transfers of financial assets CPE course include:

• Introduction to transfers of financial assets
• Identifying and assessing a transfer for derecognition under ASC 860
• Control concepts (legal control, actual control, effective control)
• Accounting treatment (sale or secured borrowing?)
• Wrap up

This course is a must for any accountant or auditor serving banks and other financial institutions. It is also great for anyone looking to learn more about transfers of financial assets and the implications that transfer of control has on the accounting outcome. Looking for other courses that are applicable to financial institutions? Make sure to check out our entire industry training library!

Interested in group discounts for your team? Contact us to learn more.

 By the end of this course, you should be able to: 

• Identify the types of transactions in the scope of ASC 860, Transfers and Servicing and primary accounting issues
• Recall the criteria that must be met for a transfer of financial assets to qualify for sale accounting
• Identify the appropriate accounting for transfers of financial assets that qualify for sale accounting and those that are secured borrowings