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.