I need a copy of rule 140, as soon as possible!!

Hello Gottaknowalready,


The Financial Accounting Standards Board  provides FASB Pronouncements
and Statements of Financial Accounting Standards here: 
http://www.fasb.org/st/index.shtml


Statement No. 140

Accounting for Transfers and Servicing of Financial Assets and
Extinguishments of Liabilities-a replacement of FASB Statement No. 125
(Issue Date 9/00)

Download full text here:
http://www.fasb.org/pdf/fas140.pdf


Summary of Statement No. 140
http://www.fasb.org/st/summary/stsum140.shtml


Status of Statement No. 140
http://www.fasb.org/st/status/statpg140.shtml


Search terms used: 
Accounting Standards Pronouncements Rule 140



I hope this helps!

Best Regards,
Bobbie7

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Request for Answer Clarification by gottaknowalready-ga on 13 May 2005 18:39 PDT

can you please tell me how this pertains to the harvard harley davidson case study?

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Clarification of Answer by bobbie7-ga on 13 May 2005 18:59 PDT

Dear Gottaknowalready,

Please understand the clarification goes beyond the scope of your
original question, and unfortunately what you are requesting is beyond 
my area of expertise.


I did locate some information regarding Statement 140 in the
Harley-Davidson 2004 Annual Report.

Excerpt:

"As part of its securitization program, HDFS transfers retail motorcycle
loans to a special purpose bankruptcy-remote wholly-owned subsidiary.
The subsidiary sells the retail loans to a securitization trust in
exchange for the proceeds from asset-backed securities issued by the
securitization trust. The asset-backed securities, usually notes with
various maturities and interest rates, are secured by future
collections of the purchased retail installment loans. Activities of
the securitization trust are limited to acquiring retail loans,
issuing asset-backed securities and making payments on securities to
investors."

"Due to the nature of the assets held by the securitization trust and
the limited nature of its activities, the securitization trusts are
considered QSPEs as defined by SFAS No. 140, ?Accounting for Transfers
and Servicing of Financial Assets and Extinguishments of Liabilities.?
In accordance with SFAS No. 140, assets and liabilities of the QSPEs
are not consolidated in the financial statements of the Company."

(. . . )

"In connection with securitization transactions, HDFS utilizes
Qualifying Special Purpose Entities (QSPEs) as defined by Statement of
Financial Accounting Standards (SFAS) No. 140, ?Accounting for
Transfers and Servicing of Financial Assets and Extinguishments of
Liabilities.? Assets and liabilities of the QSPEs are not consolidated
in the financial statements of the Company."

Download the Harley-Davidson 2004 Annual Report here:

http://www.harley-davidson.com/company/investor/ar/2004/_media/pdf/2004_HD_AR_financials.pdf


I do hope though, what I've posted will help you.


Sincerely,
Bobbie7

thank you bobby7 you rock!!