1- Briefly explain the meaning of securitization? (2 marks)
i. In your opinion, is there any accounting disclosures for securitization in the context of Local accounting standards?
ii. What are the motivations for and alternatives to securitization?
iii. Discuss the fair value concept of transferor’s journal entry for a transfer of financial assets in your own words.
2-For maintaining a book of accounts, record in a journal entries in the books of lease contract by creating lease receivable at its net investment in which, it is equal to the minimum lease payments discounted at the rate of interest implicit in the lease. (1 mark)
3-As per the book of Lessee, Pass a journal entries in the in recognition of both an asset and a liability in the books of the lessee at the inception of the lease at amount equal to present value of minimum lease payments. (1 mark)
4-Record the transaction as per book of Lessor, Journalize the transactions in the books of lessor and lessee if the lease meets the criteria for recognition as an operating lease instead of a finance lease. (1 mark)
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