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Basic Question 8 of 22
According to GAAP, the gains recognized from securitizing accounts receivable should be reported ______.
II. as an offset to selling, general or administrative expenses
III. in other non-operating income
I. within revenues
II. as an offset to selling, general or administrative expenses
III. in other non-operating income
User Contributed Comments 1
| User | Comment |
|---|---|
| HenryQ | Sale of A/R is operating CF, but gains from the pv of interest on A/R is not recognized by GAAP. Reporting in revenue is most aggressive. |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
describe presentation choices, including non-GAAP measures, that could be used to influence an analyst's opinion
describe accounting methods (choices and estimates) that could be used to manage earnings, cash flow, and balance sheet items
describe accounting warning signs and methods for detecting manipulation of information in financial reports
CFA® 2024 Level I Curriculum, Volume 3, Module 10.