Heads Up — FASB Issues Proposed ASU on Alternative Consolidation Requirements for Private Companies
Volume 20, Issue 29
This Heads Up discusses the FASB's recently issued proposed Accounting Standards Update (ASU) Applying Variable Interest Entity Guidance to Common Control Leasing Arrangements. The proposal would simplify financial reporting for private companies by giving them the option of not applying the variable interest entity consolidation guidance to certain interests in lessor entities that are under common control. Comments on the proposed ASU are due by October 14, 2013.
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