A transfer of financial assets is one of the broad transactions to which the FASB Accounting Standards Codification (ASC) devotes an entire topic: ASC 860, Transfers and Servicing. ASC 860 also addresses the accounting for rights and obligations related to servicing of financial assets—an obligation that may be undertaken as part of (or independent of) a transfer of the related financial assets. This CPE course addresses generally accepted accounting principles (GAAP) for transfers of financial assets. It reflects the FASB Codification through the issuance of FASB Accounting Standards Update (ASU) No. 2014-11, Transfers and Servicing (Topic 860) – Repurchase-to-Maturity Transactions, Repurchased Financings, and Disclosures (Issued June 12, 2014). Upon completing this course, you will be able to: Identify the scope and unit of account applied to transfers of financial assets; List the conditions that must be met for a transfer to be accounted for as a sale; Explain the accounting required when a transfer meets the conditions for a sale and when it does not; Restate the objectives for disclosures about transfers of financial assets; Identify the effective date of the additional disclosures with respect to repurchase agreements