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In this chapter, we have discussed off-balance-sheet financing and recent changes in the accounting for one of the more common methods of off-balance-sheet financing, variable interest entities. For this case, we will use Interpretation 46(R), “Consolidation of Variable Interest Entities—An Interpretation of ARB No. 51.” Open FIN 46(R).
1. Read paragraph 2. What does the term variable interests mean?
2. Read paragraph 23. What additional disclosure is required by the primary beneficiary of a variable interest entity?
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Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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