Changing the Accounting for securitizations and special-purpose entities.

• Position: Brief article

FASB has published Financial Accounting statements No. 166, Accounting for Transfers of Financial Assets, and No. 167, Amendments to FASB Interpretation No. 46[R], which both change the way entities account for securitizations and special-purpose entities.

Statement 166 will require more information about transfers of financial assets, and Statement 167 changes how a company determines when an entity that is insufficiently...