FASB Issues Special Report on Statement 125

Because of the nature and frequency of questions asked on Statement 125, FASB issued a special report, A Guide to Implementation of Statement 125 on Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.

FASB also will release a second special report on Statement 125, written in a question-and-answer format similar to the first, by the end of the year.