BDN » Topics » Accounting for Servicing of Financial Assets, an Amendment of SFAS No. 140.

This excerpt taken from the BDN 10-Q filed Nov 9, 2006.
Accounting for Servicing of Financial Assets, an Amendment of SFAS No. 140. SFAS No. 156 requires separate recognition of a servicing asset and a servicing liability each time an entity undertakes an obligation to service a financial asset by entering into a service contract. This statement also requires that servicing assets and liabilities be initially recorded at fair value and subsequently adjusted to the fair value at the end of each reporting period. This statement is effective in fiscal years beginning after September 15, 2006. The Company does not expect the adoption of this standard on January 1, 2007 to have a material effect on the consolidated financial statements.

In February 2006, the FASB issued SFAS No.155,

This excerpt taken from the BDN 10-Q filed Aug 9, 2006.
Accounting for Servicing of Financial Assets, an Amendment of SFAS No. 140. SFAS No. 156 requires separate recognition of a servicing asset and a servicing liability each time an entity undertakes an obligation to service a financial asset by entering into a service contract. This statement also requires that servicing assets and liabilities be initially recorded at fair value and subsequently adjusted to the fair value at the end of each reporting period. This statement is effective in fiscal years beginning after September 15, 2006. The Company does not expect the adoption of this standard on January 1, 2007 to have a material effect on the consolidated financial statements.

In February 2006, the FASB issued SFAS No.155,

EXCERPTS ON THIS PAGE:

10-Q
Nov 9, 2006
10-Q
Aug 9, 2006

"Accounting for Servicing of Financial Assets, an Amendment of SFAS No. 140." elsewhere:

VORNADO REALTY LP (VNO)
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