Question: Structured entities or variable interest entities (VIEs) have long been on the agendas of the financial accounting standard- setting communities. Recently, however, standards have been

Structured entities or variable interest entities (VIEs) have long been on the agendas of the financial accounting standard- setting communities. Recently, however, standards have been updated to deal with the issues presented by such entities.
Instructions
Write a one- to two-page report on structured entities or VIEs. Your report should indicate what the major accounting issue was that needed resolution, how the IASB has dealt with it, and what the FASB and ASPE positions are on similar situations. Also, identify at least one company that has a structured entity and discuss how the investment is reported.

Step by Step Solution

★★★★★

3.34 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Until recent years companies determined whether an investee was a controlled investee and therefore a subsidiary that needed to be consolidated by whether the reporting company held a majority of the ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1188-B-C-A-P-C(1332).docx

120 KBs Word File

Students Have Also Explored These Related Cost Accounting Questions!

What is due process in financial accounting standard-setting?

What does the Statement of Federal Financial Accounting Standard No. 33 discuss? When was Standard No. 33 promulgated? What was the purpose of the Standard?

Variable interest entities (VIEs) is a very complex topic and continues to be high on the agendas of the accounting standard-setting communities around the world. Part of the recent global credit...

I really need some help with working on sections 4.21 and 4.22 can some PLEASE help me. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K \u0007 NNUAL REPORT PURSUANT...

Answer the following questions and show calculations. Ticker is CCE and I have attached the 10k. Use the 13 month ?Adjusted closing price? and create a return; estimate theaverage annual returnand...

(1) Write an equation (using the actual numbers on the income statement) that shows how operating income is computed by the Coca Cola Co. (2) What item(s) are included as part of other...

Need help with Accounting Discussion. The questions are attached along with the 10K Report to look for the answer in *Use the Coca Cola 10K Report to answer your questions along with any other...

I need help getting this finished tonight: Comparative Financial Statement Analysis for Coca-Cola. I have attached a Word document with the last 5 years of common-size financial statements. I need to...

Explain how linear momentum is conserved when a ball bounces from a floor.

Gender was added and the law passed. Which congressman (quoted in the text) was most anxious about the effects of gender equality? What were his worries? Have the succeeding years supported his...

Sum Create a function that calculates the sum of all numbers of an integer array. int sum ( const int array [ ] , const int size ) Example of pseudocode function sum / / INPUT: integer array, size /...

3 Let Carpenter know that you care about what he's going through, but insist that he take a short paid leave and get counselling to deal with his emotional difficulties and evaluate the seriousness...

What are the responsibilities of management described in Section 404 of the Sarbanes-Oxley Act? What are the responsibilities of the company's auditor?

Define a compensating balance. How are compensating balances reported in financial statements?

The statement "You can't go wrong buying on this street. It's the best street in the neighborhood" is an example of Misrepresentation. None of these. Fraud. Negligence.

Read the following code and answer the Questions: (NOTE: Use this word file to submit your answers) .data myDouble DWORD 12255678h myBytes BYTE 12h,34h,56h,78h var3 QWORD ? array1 WORD 40...

WACC. A different firm is financed with 70% common equity and 30% debt. The firm does not have sufficient retained earnings and is therefore issuing new common stock. Its cost of equity from retained...