The following note appeared in the Eesti Telekom 2003 Annual Repor t: Factoring of receivables The factoring
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The following note appeared in the Eesti Telekom 2003 Annual Repor t:
Factoring of receivables The factoring of receivables is the sale of receivables. Depending on the type of factoring contract, the buyer acquires the right to sell the receivables back to the seller (factoring with recourse) or there is no right to resell and all the risks and rewards are transferred from the seller to the buyer
(factoring without recourse).
Explain how the accounting treatment would differ between a non-recourse and a recourse factoring agreement.
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Related Book For 
Financial Accounting And Reporting
ISBN: 9780273712312
12th Edition
Authors: Barry Elliott, Jamie Elliott
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