More companies seem to be taking advantage of receivable borrowing. This episode takes a look at accounting for borrowing on accounts receivable.
HIGHLIGHTS
- Factoring without recourse
- Factoring with recourse
- Updates to PCAOB AS 1105, Audit Evidence, and AS 2301, The Auditor’s Responses to the Risks of Material Misstatement
- Amendments to PCAOB Rule 3502, previously titled Responsibility Not to Knowingly or Recklessly Contribute to Violations
PREREQUISITES
None
ADVANCE PREPARATION
None