Accounting News: FASB Issued Proposal for Consolidation of Variable Interest Entities

By |2017-07-25T00:25:38+00:00July 25th, 2017|Categories: News|Tags: , , , , , , , |

On June 22, 2017 FASB proposed an Accounting Standards Update (ASU) to simplify and improve financial reporting associated with consolidation of variable interest entities (VIEs) for private companies. Concerns: Private company stakeholders, Private Company Council (PCC), continue to express difficulty in applying VIE guidance to common control arrangements and requested that FASB address certain areas [...]