Two Heads Up newsletters on off-balance sheet items
17 Jun 2009
Deloitte United States has published two issues of Heads Up discussing the FASB's recently issued Statements No 166 Accounting for Transfers of Financial Assets, and No 167 Amendments to FASB Interpretation No. 46(R).
Statement 166 amends the derecognition guidance in Statement 140 and eliminates the exemption from consolidation for qualifying special-purpose entities. Statement 167 amends the consolidation guidance applicable to variable interest entities. The IASB is addressing similar issues in its Derecognition and Consolidation projects. Click to download:
- FASB Issues New Standard on Transfers of Financial Assets (PDF 112k)
- FASB Amends the Consolidation Guidance Related to Variable Interest Entities (PDF 134k)
