U.S. GAAP, Codification of Accounting Standards, ASC - Accounting Standards Codification by FASB

U.S. GAAP Codification of Accounting Standards

U.S. GAAP-Codification

IFRS International Standards

Accounting Standards, ASC

U.S. GAAP Codification of Accounting Standards
Codification Topic 810: Consolidation
Noncontrolling Interests

U.S. GAAP Codification, Accounting Standards ASC,

IFRS Overview, IFRS, IAS by Topic, IFRS Dictionary

U.S. GAAP by Topic, Accounting by Topic

Securities Law Library, U.S. Tax Code by Section

Codification Topic 810
Consolidation
Noncontrolling Interests

Noncontrolling Interests (NCI)

SFAS 160 amended ARB 51 in December 2007
ARB 51 was issued in 1959

SFAS 160, December 2007
"Noncontrolling Interests in Consolidated Financial Statements— an amendment of ARB No. 51"

ARB 51, August 1959
"Consolidated Financial Statements"

Effective date of SFAS 160
Fiscal years and interim periods within those fiscal years
--> beginning on or after December 15, 2008
--> earlier adoption is not allowed

Presentation and disclosures
--> are applied to all periods presented

Noncontrolling interests (NCI)
--> presented within equity
--> separately from the parent's equity

Consolidated net income
--> includes the NCI portion of net income

Consolidated comprehensive income
--> includes the NCI portion of comprehensive income

Before SFAS 160
--> Minority interest cannot have a deficit balance
--> Excess losses attributable to minority interest
--> are charged to the majority interest

After SFAS 160
--> NCI can have a deficit balance
--> All losses attributable to NCI
--> are charged to NCI

International Financial Reporting Standards (IFRS)

IAS 27: Consolidated and separate financial statements

Codification Topic 810
Consolidation

Subtopics of Codification Topic 810

   810-10 Overall
   810-20 Control of partnerships and similar entities
   810-30 Research and development arrangements

Accounting Terms of Codification Topic 810-10

   Acquirer
   Acquisition, development, and construction arrangements
   Business
   Business combination
   Combined financial statements
   Consolidated financial statements
   Consolidated group
   Development stage entity
   Expected losses
   Expected losses and expected residual returns
   Expected residual returns
   Expected variability
   Legal entity
   Nominee shareholder
   Noncontrolling interest
   Nonpublic entity
   Not-for-profit entity
   Owners
   Parent
   Primary beneficiary
   Publicly traded entity
   Qualifying special-purpose entity
   Subordinated financial support
   Subsidiary
   Underlying
   Variable interest entity
   Variable interests

Accounting Terms of Codification Topic 810-20

   Kick-out rights
   Ordinary course of business
   Participating rights
   Protective rights
   With cause
   Without cause

Accounting Terms of Codification Topic 810-30

Sponsor