A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Accounting Standards Codification (ASC) 810, Consolidations, provides the primary authority for determining when presentation of consolidated financial statements is required. Consolidation is only required for legal entities within the scope of ASC 810. There are two models for assessing whether a reporting entity has a controlling interest in the entity being evaluated for consolidation: the voting interest model; and the variable interest entity (VIE) model. The first step in determining which accounting model applies and which, if any, reporting entity must consolidate an entity is to determine if a VIE scope exception applies. Then the reporting entity must determine whether the entity under consideration for consolidation is a VIE or a voting interest entity. ASC 810 consists of two subtopics: ASC 810‐10, Overall; and ASC 810‐30, Research and Development Arrangements. All legal entities are included in the scope of ASC 810.
Accounting Standards Codification (ASC) 810, Consolidations, provides the primary authority for determining when presentation of consolidated financial statements is required. Consolidation is only required for legal entities within the scope of ASC 810. There are two models for assessing whether a reporting entity has a controlling interest in the entity being evaluated for consolidation: the voting interest model; and the variable interest entity (VIE) model. The first step in determining which accounting model applies and which, if any, reporting entity must consolidate an entity is to determine if a VIE scope exception applies. Then the reporting entity must determine whether the entity under consideration for consolidation is a VIE or a voting interest entity. ASC 810 consists of two subtopics: ASC 810‐10, Overall; and ASC 810‐30, Research and Development Arrangements. All legal entities are included in the scope of ASC 810.
ASC 810 Consolidations
Flood, Joanne M (author)
Wiley <fc>GAAP</fc> 2018 ; 949-988
2018-03-12
40 pages
Article/Chapter (Book)
Electronic Resource
English
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