United States

FASB Issues Private Company Exemption from Consolidation of Certain Variable Interest Entities

Mar 28, 2014
From the Financial Reporting View and the Financial Reporting View

This edition of Defining Issues reports that the FASB and Private Company Council (PCC) recently issued guidance that gives private company lessees the option to not apply the variable interest entity (VIE) consolidation guidance to some lessor entities. All entities other than public business entities, not-for-profit entities, and certain employee benefit plans, can elect the exemption but must do so for all qualifying leasing arrangements.

Read Defining Issues: FASB Issues Private Company Exemption from Consolidation of Certain Variable Interest Entities