Accounting News

Tuesday, May 3, 2011
FASB Issues Ruling on Repurchase Agreements

The Financial Accounting Standards Board (FASB) updated the standards for repurchase agreements (repo). The ruling defines whether a repo should be accounted for as a sale or as secured borrowing. The decision is based on whether the entity has maintained effective control over the transferred financial assets. The update will be effective on December 15, 2011

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