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U.S. GAAP Codification of Accounting Standards |
| U.S. GAAP Codification | Accounting Standards, ASC |
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U.S. GAAP
Codification of Accounting Standards |
| U.S. GAAP Codification Updates |
| Principles of Accounting, Intermediate Accounting, Advanced Accounting |
| Accounting Terms |
| Codification Topic 810 Consolidation Variable Interest Entities Variable Interest Entities (VIE) SFAS 167 amended FIN 46(R) in June 2009 FIN 46(R) revised FIN 46 in December 2003 FIN 46 was issued in January 2003 as an interpretation of ARB 51 SFAS 167, June 2009 "Amendments to FASB Interpretation No. 46(R)" FASB Interpretation 46(R), Revised in December 2003 "Consolidation of Variable Interest Entities - an interpretation of ARB No. 51" Amendments to FIN 46(R) by SFAS 167 in June 2009 1. Determination of VIE After SFAS 167 --> FIN46R-5b(1) was amended with new guidance --> Whether an entity is a VIE may change after SFAS 167 2. Reconsideration of VIE --> FIN46R-7e was added as an event for reconsideration of VIE 3. Determination of Primary Beneficiary --> Quantitative approach was deleted --> "majority" guidance was deleted by amending FIN46R-14 4. Reconsideration of Primary Beneficiary --> After SFAS 167, reassessment is done on an ongoing basis --> FIN46R-15, that listed the events triggering reconsideration, was deleted 5. Troubled debt restructuring --> Before SFAS 167, troubled debt restructuring was not an event that triggers the reconsideration of VIE or Primary Beneficiary --> Such exceptions were deleted by amendments to FIN46R-7 and FIN46R-15 6. Additional disclosures --> Paragraphs 22A - 22E and 23A were added for additional disclosures |
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Codification Topic 810 Consolidation |
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Subtopics of Codification Topic 810 810-10 Overall 810-20 Control of partnerships and similar entities 810-30 Research and development arrangements |
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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 |
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Accounting Terms of Codification Topic 810-20 Kick-out rights Ordinary course of business Participating rights Protective rights With cause Without cause |
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Accounting Terms of Codification Topic 810-30 Sponsor |
| U.S. GAAP by Topic |
| Accounting Topics |
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