1. Has White transferred control of the receivables? Under U.S. GAAP, the...
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Has White transferred control of the receivables? Under US GAAP, the treatment of a transfer of accounts receivable as either a sale or a secured borrowing is based on whether the surrendered control over the accounts receivable to the Because the accounts receivable remain with White and White will continue to collect the receivables, it appear that the transferred accounts receivable have been isolated from White. Therefore, should account for this transfer as a secured borrowing.
Has White transferred control of the receivables?
Under US GAAP, the treatment of a transfer of accounts receivable as either a sale or a secured borrowing is based on whether the surrendered control over the accounts receivable to the Because the accounts receivable remain with White and White will continue to collect the receivables, it appear that the transferred accounts receivable have been isolated from White. Therefore, should account for this transfer as a secured borrowing.
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