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).
Publication Date: July 2026
Topics Covered
- Accounting for Transfers of Financial Assets
- Conditions for Sale Accounting
- Transfer Accounted for as a Sale
- Transfers NOT Accounted for as a Sale
- Repurchase Agreements and Financings
- Disclosures
- Illustrative Examples
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
- Identify the objectives for disclosures about transfers of financial assets
- Identify the effective date of the additional disclosures with respect to repurchase agreements
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (1 hour)
Program Prerequisites
None
Advance Preparation
None
Instructor
Miles Hutchinson
Miles Hutchinson is a CGMA and experienced businessman with over 40 years in the field. He has been an auditor with PriceWaterhouseCoopers and the Chief Financial Officer of a $1 billion real estate development company. Miles is a professional speaker and consultant who has presented over 2,500 seminars and training sessions on a myriad of business and financial topics, like financial analysis and modeling, accounting, strategic planning, and compliance with the Sarbanes-Oxley Act. He is recognized as an expert in payroll and sales & use tax as well as financial modeling & analysis, business strategy and communications. He is the author of several useful accounting and tax tools.
His clients include, Abbott Labs, Bank of America, Boston Scientific, Citicorp, Corning, the FBI, the FDA, the Federal Reserve, GE, Pfizer, Siemens, US Marine Corps, and the US Army. Please visit his web sites to see how you can further benefit from his expertise.