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College of Administration and Finance Sciences
Assignment (3)
Deadline: Saturday 27/11/2021 @ 23:59
Course Name: Accounting of Financial
Institutions
Student’s Name:
Course Code: ACCT 405
Student’s ID Number:
Semester: 1st
CRN: 13721
Academic Year: 1443 H
For Instructor’s Use only
Instructor’s Name: Dr. Shahid Husain
Students’ Grade:
/5
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
• ASSIGNMENTS
SUBMITTED
THROUGH
EMAIL
WILL
NOT
BE
ACCEPTED.
• Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
• All answers must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism.
• Submissions without this cover page will NOT be accepted.
College of Administration and Finance Sciences
Assignment Question(s):
(Marks 5)
1) Accounting for Securitization under SFAS No. 140 (2000) is a limited
attempt to describe complex transactions that are structured to yield
desired economic and accounting outcomes. This accounting raises
three issues for users of financial reports. State these three issues.
(1.5 Marks)
2) The vast majority of SPEs are VIEs, however VIEs need not be SPEs.
Explain this statement. Also state the conditions that define an entity as
VIE.
(0.5 + 1.5 Marks)
3) The sensitivity approach requires that the firm provide an estimate of
the loss of value, earnings, or cash flow caused by a specific adverse
movement in each market price or rate. Sensitivity Approach also has
some strength and some weakness. Discuss the strength and weakness
of Sensitivity Approach.
(1.5 Marks)

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