FIN46R: Consolidation of Variable Interest Entity Rules (Currently Unavailable)

Author: Steven C. Fustolo

Updated for 2011! This course presents FASB Interpretation No. 46R. Consolidation of Variable Entities-An Interpretation of ARB No. 51 in a comprehensible format. Following the review of the old rules for consolidation of special purpose entities (SPEs) and the background on consolidations are the general rules of Interpretation No. 46R. These include the application of the Interpretation and the special exemptions from the Interpretation. The basic rules of Interpretation No. 46R, which include three requirements, are covered in complete detail throughout the remaining course material.

Designed For
Practitioners at all levels who need an overview of FASB Interpretation No. 46R

Topics Covered

• The purpose of variable interest entities
• Knowing when to use consolidations vs. combined statements
• Three exemptions from Interpretation No. 46.s application
• Determining whether or not an entity is a VIE
• Types of variable interest entities
• Determining who is the primary beneficiary
• Off-balance-sheet real estate entities
• How to implement the new rules

Learning Objectives

• Review the old rules for consolidation of SPEs
• Understand the background on consolidations
• Discuss the new variable interest entity consolidation rules

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (8 hours)

Program Prerequisites
None

Advance Preparation
None