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FASB discusses targeted improvements to related-party guidance for VIEs

  • FASB meeting Image

May 19, 2017

At its May 18, 2017, meeting, the FASB discussed comments received on a draft of its proposed ASU on improvements to the related-party guidance for variable interest entities (VIEs).

The Board also made decisions related to (1) the determination of common control, (2) the application of VIE guidance for an entity that can no longer apply the private-company accounting alternative, (3) effective date and transition provisions, and (4) replacing economic interest with variable interest.

The Board directed its staff to begin drafting a proposed ASU for a vote by written ballot.

For more information, see the meeting minutes on the FASB’s Web site.

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