The Financial Accounting Standards Board has issued a proposal that would exempt many private companies from applying the stringent consolidation guidance under U.S. GAAP to leasing companies under common control.
FASB and PCC Propose Exempting Private Companies from Variable Interest Entity Requirements
All Accounting Today articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts, blog discussions, and conference discounts. Registered members may also choose to receive our exclusive Tax Pro Today e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends.