United States

Issues In-Depth: Implementing FASB Statements No. 166, Accounting for Transfers of Financial Assets, and No. 167, Amendments to FASB Interpretation No. 46(R)

Dec 30, 2009
From the Financial Reporting View

This edition of Issues In-Depth analyzes the key concepts underlying FASB Statements No. 166, Accounting for Transfers of Financial Assets, and No. 167, Amendments to FASB Interpretation No. 46(R), and addresses significant interpretive issues that companies may encounter in their implementation efforts.

Statements 166 and 167 make fundamental changes to the accounting for transfers of financial assets and consolidation of variable interest entities. Both Statements may significantly affect companies' financial statements and business arrangements and are effective for fiscal years beginning after November 15, 2009 (January 1, 2010 for companies with calendar year-ends). 

Read Issues In-Depth: Implementing FASB Statements No. 166 & 167