1099 consolidating secured debt 1584

Posted by / 20-May-2017 23:09

1099 consolidating secured debt 1584

The loss is calculated by reference to the carrying amount of the transferred accounts receivable and is allocated between accounts receivable sold and our retained interest, according to their relative fair values on the day the transfer is made.

We recognize a servicing liability on the day accounts receivable are transferred when we continue to service the accounts receivable after the transfer.

Deferred revenues are presented in is comprised mainly of highly liquid investments with original maturities of three months or less from the date of purchase.

We consider a transfer of accounts receivable to be a sale when we give up control of the accounts receivable in exchange for proceeds other than our retained beneficial interest in the accounts receivable.

In general, we amortize capital assets other than indefinite-life intangible assets on a straight-line basis over their estimated useful lives.

Deferred revenues also include amounts billed under multiple-element sales contracts where the conditions to account separately for each product or service sold have not been met.We have restated financial information for the previous periods to reflect our decisions in 2009 to cease the operations of or to sell certain of our businesses.When preparing financial statements according to GAAP, management makes estimates and assumptions relating to: We base our estimates on a number of factors, including historical experience, current events and actions that the company may undertake in the future, and other assumptions that we believe are reasonable under the circumstances.Otherwise, we first allocate a portion of the total price to any undelivered products and services based on their fair value and the remainder to the products and services that have been delivered.If the conditions to account separately for each product or service are not met, we recognize revenue pro rata over the term of the customer agreement.

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