FASB - Private company exemption from consolidation of certain variable interest entities 

March 28:  FASB and the Private Company Council (PCC) issued guidance that gives private company lessees the option not to apply the variable interest entity consolidation guidance to some lessor entities.

All entities—other than public business entities, not-for-profit entities, and certain employee benefit plans—can elect the exemption, but must do so for all qualifying leasing arrangements.


Read a March 2014 report [PDF 499 KB] prepared by KPMG LLP: Defining Issues: FASB Issues Private Company Exemption from Consolidation of Certain Variable Interest Entities




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