{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/325/40/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"325","topic_title":"Investments—Other","subtopic":"325-40","subtopic_title":"Beneficial Interests in Securitized Financial Assets","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"325-40-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_B4A4C36A-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This Subtopic addresses accounting for a transferor's interests in securitized transactions accounted for as sales (see Topic <a altsource=\"GUID-E53370AF-0D20-4F9A-BBE9-2A4A9016D32F.ditamap\" class=\"ditamap\">860</a>) and purchased <a href=\"/glossary/b/#beneficial-interests\" class=\"term\" title=\"Rights to receive all or portions of specified cash inflows received by a trust or other entity, including, but not limited to, all of the following: Senior and subordinated shares of interest, principal, or other cash inflows to be passed-through or paid-through Premiums due to guarantors Commercial paper obligations Residual interests, whether in the form of debt or equity.\"><span>beneficial interests</span></a>. Collectively, these interests are referred to in this Subtopic as beneficial interests. </span></span></div></div>","snippet":"This Subtopic addresses accounting for a transferor's interests in securitized transactions accounted for as sales (see Topic 860) and purchased beneficial interests. Collectively, these interests are referred to in this…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c63f23d3dcaa7947dacb758b217e032d21329728470ae9e43ff73393776ade60","downloaded_from":"2026-09-09T23:44:30.336Z","last_downloaded_at":"2026-09-09T23:44:30.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481571","source_sha256":"e18e3174744a6350c0e58b2648b5f2f83f8fe28efac57a5c51de824b6d41f976"}},{"citation":"325-40-05-2","para":"05-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_B4A4C68D-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Changes in cash flows expected to be collected might arise from prepayments, from credit concerns, from changes in interest rates, or for other reasons. </span></span></div></div>","snippet":"Changes in cash flows expected to be collected might arise from prepayments, from credit concerns, from changes in interest rates, or for other reasons.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de108eb5868dd66ee4a74566070ae6378a3e577b1a3ba32f0f57bccb0a25f86e","downloaded_from":"2026-09-09T23:44:30.336Z","last_downloaded_at":"2026-09-09T23:44:30.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481571","source_sha256":"e18e3174744a6350c0e58b2648b5f2f83f8fe28efac57a5c51de824b6d41f976"}},{"citation":"325-40-05-3","para":"05-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><a href=\"/updates/page-1833002/\" class=\"xref\">Paragraph not used</a>.</div></div>","snippet":"Paragraph not used.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5c215ccb4afa96a7ecc32537ba8ed9b8b8295830ac6e432f7cd5067f845dd0ad","downloaded_from":"2026-09-09T23:44:30.336Z","last_downloaded_at":"2026-09-09T23:44:30.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481571","source_sha256":"e18e3174744a6350c0e58b2648b5f2f83f8fe28efac57a5c51de824b6d41f976"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e78808b8a63f4949a31bbb234cf5982737cec736338c8f1595aeeae16db9d74f","downloaded_from":"2026-09-09T23:44:30.336Z","last_downloaded_at":"2026-09-09T23:44:30.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481571","source_sha256":"e18e3174744a6350c0e58b2648b5f2f83f8fe28efac57a5c51de824b6d41f976"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8025cbf047785469f09131afa8a7ab4968eb70cfdad16f57afdc693338512982","downloaded_from":"2026-09-09T23:44:30.336Z","last_downloaded_at":"2026-09-09T23:44:30.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481571","source_sha256":"e18e3174744a6350c0e58b2648b5f2f83f8fe28efac57a5c51de824b6d41f976"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8025cbf047785469f09131afa8a7ab4968eb70cfdad16f57afdc693338512982","downloaded_from":"2026-09-09T23:44:30.336Z","last_downloaded_at":"2026-09-09T23:44:30.336Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481571","source_sha256":"e18e3174744a6350c0e58b2648b5f2f83f8fe28efac57a5c51de824b6d41f976"}}