Question: How would you describe a Variable Interest Entity (VIE)? Discuss the reasons why a company would create a VIE. With regard to reporting for a

How would you describe a Variable Interest Entity (VIE)? Discuss the reasons why a company would create a VIE.

With regard to reporting for a VIE, under current GAAP guidelines, what items must be disclosed by the primary beneficiary? Why did GAAP expand its reporting guidelines?

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