FASB action on consolidation of variable interest entities.

• Position: Accounting & auditing news - Financial Accounting Standards Board - Brief Article

The Financial Accounting Standards Board posted to its Web site a proposed interpretation to clarify some of the provisions of Interpretation No. 46, Consolidation of Variable Interest Entities, and to exempt certain entities from its requirements. Comments were due Dec. 1. The proposal was issued in response to input received from constituents regarding certain issues arising in implementing Interpretation 46. The proposed clarifications and modifications would...