PwC is pleased to offer the 2013 second edition of our popular publication, Guide to Accounting for Transfers and Servicing of Financial Assets.
We have updated our accounting and financial reporting guide for Transfers and Servicing of Financial Assets - 2013 primarily to reflect the impact of new and updated authoritative guidance related to repos to maturity and other topics. These revisions are marked and summarized in Appendix C, Summary of significant changes of the guide. Content not marked as revised in March 2016 has been updated as of May 31, 2013.
This PwC guide offers a comprehensive exploration of a complex and still evolving area of accounting: the accounting for transfers/securitizations and related transactions. FASB ASC 860, Transfers and Servicing, remains the principal guidance in this area and was recently amended to address some important issues left unresolved by previous versions of the guidance and to respond to perceived flaws highlighted most recently by events related to the economic downturn. The release of new or modified guidance by the FASB is more than likely to continue as the Board considers practice issues that emerge in this innovative area of finance, as well as it continues to work with international standard setters to achieve convergence. We intend to keep you up to date through further communications whenever necessary and genuinely helpful.
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