BYP CASE - BYP CASE RESEARCH CASE 8-11 IDRIS ONIKOSI ACCT...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: BYP CASE RESEARCH CASE 8-11 IDRIS ONIKOSI ACCT 3110 Requirement 1. 1. SFAS No. 49, FASB Standard on accounting for product financing arrangements provides authoritative guidance on this issue. Product financing arrangements include agreements in which a sponsor Balboa Lumber: A. Sells the product to another entity (the enterprise through which the financing flows), and in a related transaction agrees to repurchase the product (or a substantially identical product); B. Arranges for another entity to purchase the product on the sponsor's behalf and, in a related transaction, agrees to purchase the product from the other entity; or C. Controls the disposition of the product that has been purchased by another entity in accordance with the arrangements described in either (a) or (b) above. Summary This Statement specifies criteria for determining when an arrangement involving the sale of inventory is in substance a financing arrangement. A product financing arrangement is a transaction in which an enterprise substance a financing arrangement....
View Full Document

Page1 / 3

BYP CASE - BYP CASE RESEARCH CASE 8-11 IDRIS ONIKOSI ACCT...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online