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Optimize Cash Flow Through Receivables Factoring (Course Id 2088)

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Author : Kelen Camehl, CPA, MBA
Course Length : Pages: 22 ||| Word Count: 13,891 ||| Review Questions: 6 ||| Final Exam Questions: 10
CPE Credits : 2.0
IRS Credits : 0
Price : $17.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 2088

Description :

Factoring is a type of transaction where an entity sells it customer receivables to a financial intermediary who then in turn collects payment from the entity’s customers.  Many entities employ this strategy to accelerate cash collection.  This course provides an overview of the accounting and reporting requirements with respect to accounts receivable factoring programs as well as the conditions that must be met in order to recognize the transfer of these financial assets as a “true sale” instead of a secured borrowing. 

Usage Rank : 0
Release : 2022
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 12-Oct-2022
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 2088

Keywords : Accounting, Optimize, Cash, Flow, Receivables, Factoring, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Upon completion of this course, you will be able to:
  • Recognize key characteristics as well as advantages/disadvantages of factoring arrangements
  • Identify the U.S. GAAP area applicable to factoring arrangements
  • List the three specific conditions that must be met for a factoring arrangement to qualify as a sale
  • Recognize key evaluation considerations relating to true sale opinions
  • Identify examples of continuing involvement
  • Recognize the impact from a failed sale in a factoring arrangement
Course Contents :

Chapter 1 - Optimize Cash Flow Through Receivables Factoring

Course Learning Objectives

Course Overview

Introduction

Overview of Factoring Arrangements

Advantages & Disadvantages of Factoring

Where Do I Look to in U.S. GAAP?

Review Questions

Transfers Within Scope of ASC 860

Overall Conditions for Sale Accounting

Three Specific Conditions for Sale Accounting

Sale Condition #1 Legal Isolation

True Sale Opinion

Review Questions

Sale Condition #2 Right to Pledge or Exchange

Continuing Involvement

Assessment of Constraints

Sale Condition #3 Effective Control

Factoring Arrangements Qualifying as a Sale

Re-Recognition Events

Factoring Arrangements Not Qualifying as a Sale

Review Questions

Glossary of Key Terms

CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
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