{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/860/20/#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":"860","topic_title":"Transfers and Servicing","subtopic":"860-20","subtopic_title":"Sales of 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":"860-20-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic provides guidance on the accounting for a <a href=\"/glossary/t/#transfer\" class=\"term\" title=\"The conveyance of a noncash financial asset by and to someone other than the issuer of that financial asset. A transfer includes the following: Selling a receivable Putting a receivable into a securitization trust Posting a receivable as collateral. A transfer excludes the following: The origination of a receivable Settlement of a receivable The restructuring of a receivable into a security in a troubled debt restructuring.\"><span>transfer</span></a> of <a href=\"/glossary/f/#financial-asset\" class=\"term\" title=\"Cash, evidence of an ownership interest in an entity, or a contract that conveys to one entity a right to do either of the following: Receive cash or another financial instrument from a second entity Exchange other financial instruments on potentially favorable terms with the second entity.\"><span>financial assets</span></a> that satisfies the conditions for sale accounting in paragraph <a href=\"/asc/860/10/#860-10-40-5\" class=\"xref\">860-10-40-5</a> and the accounting if a <a href=\"/glossary/t/#transferor\" class=\"term\" title=\"An entity that transfers a financial asset, an interest in a financial asset, or a group of financial assets that it controls to another entity.\"><span>transferor</span></a> regains control of assets previously sold.</div></div>","snippet":"This Subtopic provides guidance on the accounting for a transfer of financial assets that satisfies the conditions for sale accounting in paragraph 860-10-40-5 and the accounting if a transferor regains control of assets…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5c5bc79d2d5841fadacfb2ed7d28fbe780f79b186b295ebcb82beefbf363fee2","downloaded_from":"2026-09-10T02:06:15.692Z","last_downloaded_at":"2026-09-10T02:06:15.692Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481560","source_sha256":"edaf194d9df3b08bb8cb77561cde364ca358583853fb72be63c7b3c6bc0ed8a3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:64868c1fd493da4c33e8b3891fe8c80e249dbc27c1afb87e98f41c2f447f663c","downloaded_from":"2026-09-10T02:06:15.692Z","last_downloaded_at":"2026-09-10T02:06:15.692Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481560","source_sha256":"edaf194d9df3b08bb8cb77561cde364ca358583853fb72be63c7b3c6bc0ed8a3"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa120b68f5648b8e098acd55ca68ec37dbdb06b4e3240d735f51cdc6ef1a59e2","downloaded_from":"2026-09-10T02:06:15.692Z","last_downloaded_at":"2026-09-10T02:06:15.692Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481560","source_sha256":"edaf194d9df3b08bb8cb77561cde364ca358583853fb72be63c7b3c6bc0ed8a3"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:aa120b68f5648b8e098acd55ca68ec37dbdb06b4e3240d735f51cdc6ef1a59e2","downloaded_from":"2026-09-10T02:06:15.692Z","last_downloaded_at":"2026-09-10T02:06:15.692Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481560","source_sha256":"edaf194d9df3b08bb8cb77561cde364ca358583853fb72be63c7b3c6bc0ed8a3"}}