AICPA STATEMENT OF POSITION 03-3 PDF

Space considerations prevent publishing here the appendices to SOP Statements of Position on accounting issues present the conclusions of at least as amended, identifies AICPA Statements of Position that have been cleared by. The AICPA accounting standards executive committee (AcSEC) issues Statement of Position (SOP) , Accounting for Certain Loans or Debt Securities. AICPA Statements of Position (SOPs), available full-text at the links below from the University of .. , Accounting for certain loans or debt securities acquired in a transfer full-text, December , Reporting financial highlights and .

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Accounting for real estate time-sharing transactions full-text. Accounting for origination costs and loan and commitment fees in the mortgage banking industry full-text. Reports on audited financial statements of brokers and dealers in stateent amendment to AICPA audit and accounting guide Audits of brokers statemdnt dealers in securities full-text. The transfer was immaterial both quantitatively and qualitatively under Staff Accounting Bulletin No.

If a loan that is purchased from a trust is not a Seriously Delinquent Loan, Fannie Mae considers relevant facts and circumstances to determine whether it is probable, at acquisition, that Fannie Mae will positiion unable to collect all amounts due according to the contractual terms of the loan.

Summary of Significant Accounting Policies. Accounting for and reporting of certain defined contribution plan investments and other disclosure matters; amendment to the AICPA audit and accounting guide, Audits of employee benefit plans full-text. The aggregate amount of single-family guaranty fees we receive in any period depends on stayement amount of Fannie Mae MBS outstanding during that period and the applicable guaranty fee rates.

Such loan repaid in full in March Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking action with respect to the filings; and.

Accounting statemennt and reporting practices for certain nonprofit organizations full-text. Definition of the term substantially the same for holders of debt instruments, as used in certain audit guides and a podition of position; February 13,amendment to AICPA industry audit guide, Audits of banks and AICPA audit and accounting guides Audits of brokers and dealers in securities and Savings and loan associations full-text. Reporting pursuant to the Association for Investment Management and Research performance presentation standards full-text.

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Except for purchases triggered by initial representations and warranty deficiencies, it is likely that the repurchased loan would meet the criteria to be included in the scope of the SOP. You disclose in footnote 5 that your non-GAAP consolidated fair value balance sheets also include the estimated guaranty assets and obligations related to mortgage loans held in your portfolio.

In applying SOPthe Company independently reviews all adversely classified loans those risk-rated substandard or doubtfulnonaccrual loans and loans classified as impaired by the acquired company and independently concludes whether it is probable that the Company will be unable to collect all contractually required payments receivable for each of these loans.

For purposes of greater transparency, please revise your future annual and 033 filings to. Based on other disclosure throughout the filing, it was our understanding that you sattement guarantees only to trusts in connection with your securitization activities.

The difference between that price and the amount Fannie Mae actually charges under its guaranty contracts represents the loss at inception of certain guaranty contracts.

Reporting on required supplementary information accompanying compiled or reviewed financial statements of common interest realty associations, April 23, ; amendment to AICPA audit and accounting guide, Common interest realty associations full-text. Accounting for advance refundings of tax-exempt debt, June 30, full-text. Although Fannie Mae uses market estimates statemfnt determine the fair value of a loan at acquisition, Fannie Mae does not use estimates of fair value, whether internal or external, to determine whether a loan should be placed on or returned to accrual status.

SOP may be greater than those actually realized. If so, tell how. Clarification of the scope of the audit and accounting guide investment companies and accounting by parent companies and equity method investor for investments in investment companies.

Although the funds were not held in separate accounts, the amount due to each trust and its certificate holders was etatement ascertainable. Audits of states, local governments, and not-for-profit organizations receiving federal awards full-text. Disclosures of certain matters in the financial statements of insurance enterprises full-text.

AICPA Statements of Position – Wikipedia

Fannie Mae refers to this option as its default call option. Audits of property and liability insurance companies full-text. Official title Issued on Contingencies arising from energy shortages full-text January 24 Accounting for research and development and similar costs full-text February 28 Disclosure in annual stockholder reports; comments on Securities Exchange Act release no.

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Accordingly, the expanded example would address recording amounts in the Reserve for guaranty losses, the upfront loss at the purchase of the loan when applying SOPand the credit loss recorded in your Allowance for loan losses.

Reporting practices concerning hospital-related organizations; August 1, For each of the periods presented, please revise to separately disclose the amount of loans purchased from a MBS trust that were purchased at your option and the amount that were required to be purchased.

Software revenue recognition full-text. Financial accounting and reporting by continuing care retirement communities, November 28, ; amendment to AICPA audit and accounting guide Audits of providers of health care services full-text.

Financial accounting and reporting by hospitals operated by a governmental unit, July 31, ; proposal to the Financial Accounting Standards Board to amend AICPA industry audit guide, Audits wtatement state and local governmental units full-text. Reporting by banks of investment securities gains or losses, December 31, ; amendment to AICPA industry audit guide Audits of banks full-text.

AICPA Statements of Position

Please clarify how performance is measured for all material elements of incentive compensation. Questions concerning profit recognition on sales of real estate full-text. Fannie Mae evaluates individual loan purchases from an MBS trust to determine. Your example of how posjtion recorded at inception on certain guaranty contracts affect earnings over time is helpful.

Please address the following in your future filings. As this amount was determined to be immaterial, no nonaccretable discount was established for the Community loans. Reports on audited financial statements of investment companies: Accounting for asserted and unasserted medical malpractice claims of health care providers and related issues full-text. At their respective acquisition dates, the loan portfolios of the acquired companies were as follows dollars in millions: Because Fannie Mae did not grant any options to.

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