Heads Up on proposed consolidation deferral

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12 Nov 2009

Deloitte United States has published a Heads Up Newsletter titled Board Votes to Defer Statement 167 for Interests in Certain Entities.

FASB tentatively decided to defer indefinitely the effective date of Statement 167 Amendments to FASB Interpretation No. 46(R) Consolidation of Variable Interest Entities for reporting of investments in the financial statements of asset managers. The FASB staff indicated that mutual funds, hedge funds, private equity funds, money market funds, and venture capital funds are examples of entities that may meet the conditions for deferral. The FASB staff also indicated that securitisation entities, asset-backed financing entities, or entities formerly classified as qualifying special-purpose entities (QSPEs) would not meet the conditions. If finalised, the deferral would be effective for 2009.
Click to view Heads Up Board Votes to Defer Statement 167 for Interests in Certain Entities (PDF 89k).


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