Companies often transfer trade receivables to fund working capital and liquidity needs. Examples of such transfers include factoring arrangements and transfers to bank-sponsored commercial paper conduits. The recent amendments to ASC 860, Transfers and Servicing, and ASC 810, Consolidation, have significantly altered the accounting analysis of trade receivable transfers, making it more likely that many structures used to effect such transfers will be accounted for as secured borrowings. The SEC staff recently weighed-in on the relevant cash flow classification issues that result from certain structures that meet sale accounting requirements. Structures continue to evolve in the marketplace and assessing these structures under the new guidance can be challenging. This Dataline highlights the most significant considerations related to these structures.