Financial Accounting Best Practices

True Sale Opinions - What You And Your Auditor Needs To Consider

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.

Learning Objectives:

After completing this course, participants should be able to:

  • 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 nonconsolidation opinion

 



Prerequisites/Advanced Preparation:

None

Speaker / Author:

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.


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Price (USD)

Standard: $24.95

Details

Course Code : 99CAM44

Release Date : 06/28/2023
Expire Date : 01/31/2025
Credits :
CPE 1.00
QAS 1.00

Length : 50min
Course Level : Overview
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Financial Accounting Best Practices

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