The FASB ASC Subtopic Variable Interest Entities affects thousands of
The FASB ASC Subtopic “Variable Interest Entities” affects thousands of business enterprises that now, as primary beneficiaries, consolidate entities that qualify as controlled VIEs. Retrieve the annual reports of one or more of the following companies (or any others you may find) that consolidate VIEs:
• The Walt Disney Company.
• General Electric.
• ConAgra Foods.
• Time Warner.
• Allegheny Energy.

Write a brief report that describes
1. The reasons for consolidation of the company’s VIE(s).
2. The effect of the consolidation of the VIE(s) on the company’s financial statements.

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