The Financial Accounting Standards Board issued guidance Thursday to make it easier for private companies to report on consolidation of variable interest entities.

The new guidance applies to the consolidation of lessors in certain common control leasing arrangements for private companies. It comes in response to recommendations from FASB’s sister organization, the Private Company Council, which has also weighed in with recommendations on adjusting the standards on goodwill impairment and interest rate swaps for private companies that were ultimately adopted by FASB.

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