Can anyone explain how receivables securitizaiton would affect the balance sheet and income statment? Also this will increase OCF, right? thanks a lot~ 
Receivables will decrease and cash will increase. The proceeds are treated as CFO and if receivables are sold on gain they can increase Income Statetement.
great~Can you look at the text book question: Reading 27-17 - it seem that both asset and liabilites would be reduced by the same amount, I am confused on this.
According to the example on page 453-454. To reverse a secuiritizaion: Add the security back and treat it an asset backed security. Total liabilites are increased too because you still have the cash from the sale which is categorized as a loan.
now it becomes clear~ you guys awsome 