Decision Tree Slides

Decision Tree Slides - An Obligation to Pay the Cash Flows...

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TRANSFER OF RECEIVABLES ( GAAP )           DOES IT MEET THE CONDITIONS? 1. Transferred Assets Isolated from Transferor 2. Transferee Has Right to Pledge or Sell Assets 3. Transferor Does Not Maintain Control Through Repurchase Agreement Record as a Liability Is There Continuing Involvement? - Record the gain/loss on sale - Reduce the receivables - Recognize assets obtained - Incur the liability NO YES YES
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IAS 39 - DERECOGNITION ( IFRS )        Have the rights  to the cash  flows from the  asset expired? Has the  Entity Assumed 
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Unformatted text preview: An Obligation to Pay the Cash Flows From the Asset? Derecognize the Asset YE S NO YE S Continue to Recognize the Asset Transferred Substantially All Risks and Rewards? Retained Substantially All Risks and Rewards? Derecognize the Asset YE S NO YE S Continue to Recognize the Asset NO Retained Control of the Asset? NO YE S Derecognize the Asset Continue to Recognize the Asset to the Extent of the Continuing Involvement...
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This note was uploaded on 11/02/2011 for the course ACCOUNTING 300 taught by Professor Rodhurd during the Fall '11 term at Golden Gate.

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Decision Tree Slides - An Obligation to Pay the Cash Flows...

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