True Sale Opinions: What You and Your Auditor Needs to Consider ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
A true sale opinion is an attorney’s conclusion that transferred financial assets have been sold and are beyond the reach of a transferor’s creditors and that a court would conclude that the assets would not be included in the transferor’s bankruptcy estate. There are many considerations related to these types of opinions, perhaps most importantly is how they are evaluated and whether they can be relied on as evidence. In this course, we explore many of the burning questions as it relates to true sale opinions.
Highlights
What is a True Sale Opinion, and when does it come into play? True Sale Opinion language. What are the audit impacts from restrictions on use. Conditions for sale accounting.
Prerequisites
None.
Designed For
CPAs.
Objectives
Recognize when a true sale opinion is generally required to be obtained. Identify considerations regarding whether internal legal counsel can issue a true sale opinion. List specific language that should not be included in a true sale opinion. Recognize characteristics of a non-consolidation opinion.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $33.00
Member Price $29.00