FASB defers Consolidation rule.

• Position: Financial Accounting Standards Board - Brief Article

FASB is deferring the implementation date for FIN 46, Consolidation of Variable Interest Entities, to the fourth quarter. FIN 46 requires that a variable interest entity be consolidated by a company that is subject to a majority of the economic risks or rewards related to that entity.

Additional time is needed for companies and their auditors to evaluate existing variable interest entities and determine which should be included in their consolidated financial...