Heads Up: FASB Proposes Amendments to Investment Company Guidance

Volume 18, Issue 31


This Heads Up discusses the FASB’s Proposed Accounting Standards Update, Financial Services — Investment Companies: Amendments to the Scope, Measurement, and Disclosure Requirements (referred to as “ICEs” herein), which would amend the criteria in ASC 946 for an entity to qualify as an investment company. An ICE that meets all of the revised criteria would continue to measure its investment assets at fair value; however, in a fund-of-funds structure, an ICE would be required to consolidate a controlling financial interest in another ICE or an investment property entity.

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