FASB Statement No. 166, Accounting for Transfers of Financial Assets--an amendment of FAS-140

October 2009
GAAP Update Service;10/30/20009, Vol. 9 Issue 20, p1
Trade Publication
The article focuses on the issuance of the Financial Accounting Standard (FAS) Statement No. 166 "Accounting for Transfers of Financial Assets�an amendment of FAS-140" by the FAS Board (FASB) in the U.S. It states that FAS-166 amends the Statement 140 "Accounting for Transfers and Servicing of Financial Assets (FAS-140)" and removes the concept of qualifying special-purpose entity (SPE). An overview of the objectives of FAS-166 and the provisions of its amendment is presented.


Related Articles

  • Accounting Standards Update (ASU) No. 2010-09: Subsequent Events (Topic 855): Amendments to Certain Recognition and Disclosure Requirements. Weiss, Judith // GAAP Update Service;3/30/2010, Vol. 10 Issue 6, p1 

    The article reports on the issuance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) in the U.S., which is said to be the sole source for authoritative U.S. generally accepted accounting principles (GAAP) for nongovernment entities. It states that the...

  • LLPs get dedicated SORP.  // Accountancy;Apr2000, Vol. 125 Issue 1280, p8 

    The Accounting Standards Board has given the six Consultative Committee of Accounting Bodies, the go-ahead to develop their own Statement of Recommended Practice on accounting by limited liability partnerships (LLPs). A working party, headed by Nigel Liewellyn of Deloitte & Touche LLP but with...

  • PIPELINE. Shenn, Jody; Davenport, Todd // American Banker;3/23/2006, Vol. 171 Issue 56, p11 

    The article looks at the U.S. new accounting standard for servicing rights, FAS 156, approved by the members of the Financial Accounting Standards Board. Companies must adopt the new standard, which amends FAS 140, in the first fiscal year that begins after September 15, 2006. Board member...

  • Measuring A&A Fair Value. Callen, David // New Jersey CPA;Jan/Feb2008, p19 

    The article presents information on the U.S. Financial Accounting Standards Board Statement 157, Fair Value Measurement (FAS 157). Grounds for the implementation of FAS 157 are also mentioned including fair value definition, distinguishing methods in fair value measurement and identifying the...

  • GAAP Codification Effort: Big Step in the Right Direction. Henry, Allison M.; Fleming, John M. // Pennsylvania CPA Journal;Summer2009, Vol. 80 Issue 2, p1 

    The article discusses the final release of the U.S. Financial Accounting Standards Board's (FASB's) Accounting Standards Codification on July 1, 2009, which will reportedly eliminate some of the complex features of the generally accepted accounting principles (GAAP). The revised GAAP will have...

  • ACCOUNTING STANDARDS.  // Accountancy;Oct76, Vol. 87 Issue 998, p5 

    The article reports that the American Financial Accounting Standards Board has issued for public comment a revised draft of a proposed statement on accounting for leases. This modifies in several important respects the provisions of its first Exposure Draft (ED) issued in August 1975. In Great...

  • GAAP UPDATE SERVICE. Williams, Jan R. // GAAP Update Service;10/30/2008, Vol. 8 Issue 20, p1 

    The article discusses the two exposure drafts (EDs) issued by the U.S. Financial Accounting Standards Board (FASB) for its two proposed statements in 2008. The EDs would amend FASB Statement No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities...

  • The Economic Consequences of FAS-133 for Bank Holding Companies. Park, Jongchan // Bank Accounting & Finance (08943958);Oct/Nov2005, Vol. 18 Issue 6, p19 

    The article explores the impact of the accounting Statement No. 133 (FAS-133), which the Financial Accounting Standards Board issued in June 1998, on bank holding companies' operations in the U.S. It examines the security price reactions of bank holding companies to events that increase the...

  • FSP No. FIN 46(R)-4: Technical Correction of FASB Interpretation No. 46 (revised December 2003), Consolidation of Variable Interest Entities, Relating to Its Effects on Question No. 12 of EITF Issue No. 96-21. Weiss, Judith // Miller GAAP Update Service;6/30/2004, Vol. 4 Issue 12, p4 

    Focuses on the correction made to the U.S. Financial Accounting Standards Board's Interpretation No. 46. Consolidation of variable interest entities; Implementation issues in accounting for leasing transactions involving special-purpose entities.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics