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Journal entry — Principal versus agent — FASB decides not to require separate analysis

Published on: Dec 12, 2013

At its meeting this week, the FASB discussed its proposed ASU1 on the principal versus agent analysis and tentatively decided to integrate the proposal’s factors for determining whether a reporting entity is a principal or an agent into the evaluation of whether the reporting entity holds a controlling financial interest in the entity. Accordingly, a separate and distinct principal versus agent analysis would not need to be performed.

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1 FASB Proposed Accounting Standards Update, Principal Versus Agent Analysis.

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