In a sale of receivables described as a pass-through arrangement, under what conditions can receivables be derecognized?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

International Accounting

ISBN: 978-0077862206

4th edition

Authors: Timothy Doupnik, Hector Perera

See More Books

Question Posted: Nov 26, 2015 12:31 AM

See More Questions

Under what conditions can trespass arise?
Discuss the difference between a secured borrowing (pledging or assigning) and a sale of receivables (factoring).
As indicated in the case at the beginning of this chapter, Xerox was manipulating income between the years 1997 through 1999. Below are revenue, gross profit, net income, and operating cash flow data...
The OrbitTrack Company specializes in developing and selling a wide range of high-quality scooters. Sales representatives report that there is a growing demand for racing scooters. OrbitTrack's...
Consider the following time series: a. Forecast the demand for each quarter in Year 4 using multiplicative decomposition. b. Interpret the meaning of the seasonal components. c. Calculate the MAD for...
Consider the following I/O scenarios on a single-user PC. a. A mouse used with a graphical user interface b. A tape drive on a multitasking operating system (assume no device preallocation is...
What is the optimum mix of debt and equity?
Rob Davis, Stewart Vintu, and Vern Wilson are liquidating their partnership. Before selling the assets and paying the liabilities, the capital balances are Davis $40,000; Vintu, $24,000; and Wilson,...
Monty Inc., a major retailer of bicycles and accessories, operates several stores and is a publicly traded company. The company is currently preparing its statement of cash flows and follows the...
A Carnot refrigerator has tetrafluoroethane as the working fluid. The cycle is the same as that shown by Fig. 8.2, except the directions are reversed. For T C = ?12?C and T H = 40?C, determine: (a)...
What is the accounting treatment for debt extinguishment costs? Debt modification costs?
What is a constructive obligation?
Skydivers A and B are in a helicopter hovering at 6400 ft. Skydiver A jumps and descends for 4 sec before opening her parachute. The helicopter then climbs to 7000 ft and hovers there. Forty-five...
The COVID pandemic has created a crisis for many restaurateurs. The author of one of this week's readings has a suggestion that he thinks could help restaurants survive the crisis. Read the article...
Evidence is used to make a decision whenever the decision follows directly from the evidence (Tingling & Brydon, 2010). This is where so many people get it wrong or going by their personal beliefs or...
Pick 2 countries, find the price of a Big Mac in each country (if you want to pick another good/service, go ahead), express the price in the local currency, then with the help of exchange rate,...
Your task is to educate the public about the role of the Fed in the economy. Role: You are an economic issues reporter for PBS. Audience: Television audience of The Newshour on PBS Situation: Your...
Trade Queens Limited is a highly successful FMCG in Zambia. Salient points from the Year-end report indicate the following: Operating profit for the 2022 financial year is up 60% year on year,...
In your opinion, which is the best test for the actus reus of attempt? Defend your answer.
A copper sphere of 10-mm diameter, initially at a prescribed elevated temperature T;, is quenched in a saturated (1 atm) water bath. Using the lumped capacitance method, estimate the time for the...
Figure cash flows and present value of a perpetuity.
Explain the various motivations of those who politically lobby standard-setters.
Give examples of political lobbying of US standard-setters, explaining in what ways the lobbying went beyond arguments about the correct technical solutions.
Why might it be expected that there would be more examples of political lobbying relating to the US than to any other country?
September 1 . Purchased a new truck for $ 8 3 , 0 0 0 , paying cash. September 4 . Sold the truck purchased January 9 , Year 2 , for $ 5 3 , 6 0 0 . ( Record depreciation to date for Year 3 for the...
Find the NPV for the following project if the firm's WACC is 8%. Make sure to include the negative in your answer if you calculate a negative. it DOES matter for NPV answers
What is the value of a 10-year, $1,000 par value bond with a 12% annual coupon if its required return is 11%?

In a sale of receivables described as a pass-through arrangement, under what conditions can receivables be derecognized?

Question:

Step by Step Answer:

Derecognition of receivables in a socalled pass through arrangement is appropriate ...View the full answer

International Accounting

Students also viewed these Accounting questions