FASB action on consolidation of variable interest entities.
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
apply in financial statements for the first period ending after Dec. 15,
2003. The document is available from:
www.fasb.org
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