Overview

This Guideline presents the views of the Accounting Standards Board on the application of consolidation principles to certain entities that are subject to control on a basis other than ownership of voting interests. The purpose of the Guideline is to provide guidance for when an enterprise includes the assets, liabilities and results of activities of such an entity (a "variable interest entity") in its consolidated financial statements. An entity that elects not to consolidate its subsidiaries is exempt from this Guideline. Where the entity elects to account for its subsidiaries using the cost or equity method, it accounts for all of its interests in accordance with other sources of GAAP as if this Guideline did not exist.

History of AcG-15

Note: The above summary does not include details of consequential amendments made as the result of other projects.