This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

FASB Adds Project to Its Agenda to Address Repurchase Transactions

Published on: 30 Jul 2010

On July 28, the FASB decided to add a limited-scope project to amend ASC Topic 860, Transfers and Servicing. This project is intended to improve the accounting for transactions in which an entity transfers a financial asset and, as part of the transfer, enters into an agreement that both entitles and obligates the entity to repurchase the asset before its maturity. Such transactions are commonly referred to as “repurchase transactions” or “repos.”

Although this will not be a joint project with the IASB, the FASB indicated that it would consider whether, and to what extent, any proposed amendments to Topic 860 would be similar to, or different from, IFRS.

Accounting Journal Entries Image

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.