search query: @author Levitin, M. S. / total: 6
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| Author: | Graves, J. Levitin, M. S. |
| Title: | In-substance foreclosures; ESOP liability |
| Journal: | Journal of Accountancy
1989 : OCT, VOL. 168:4, p. 25-26 |
| Index terms: | LOANS DEBT FINANCING ASSET VALUATION |
| Language: | eng |
| Abstract: | Review of accounting for collateral received by a creditor when a loan is foreclosed "in-substance", meaning foreclosure has not occurred, but the collateral has been transferred to the creditor in settlement of the debt. How a writedown creates a new cost basis for an asset. Decision to record it at fair value. Issue of sponsoring an employee stock ownership plan. Discussion and consensus details are given. |
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