Consolidation

FASB Extends Timeline on Consolidations, Related Proposals

Tammy Whitehouse December 12, 2011

The Financial Accounting Standards Board has decided to allow more time for constituents to study and comment on three proposals, primarily because they contain complicated issues that may interact with one another. The comment periods for the consolidations proposal and for another related to investment property were extended to Feb. 15.

Consolidation Guidance Tweaked to Scope Out Agents

November 08, 2011

The Financial Accounting Standards Board is brushing up its fairly new rules on consolidations to address concerns that investment managers or others acting as agents for their clients might get caught up in the guidance and treated as if they are owners.

SEC Offers Views on Consolidation Transition Issues

Tammy Whitehouse April 16, 2010

The Center for Audit Quality has some tips to share directly from the staff of the Securities and Exchange Commission on how companies should handle some transition issues as they adopt new consolidation accounting rules.The CAQ’s SEC Regulations Committee met recently with SEC staff to discuss some reporting issues related...

Investment Companies Get Deferral on Consolidation

Tammy Whitehouse March 04, 2010

The Financial Accounting Standards Board has finalized a deferred effective date for investment companies in complying with new consolidation rules intended to bring more assets on to corporate balance sheets.FASB recently added Accounting Standards Updated No. 2010-10 to its Accounting Standards Codification to defer the effective date of the consolidation...

FASB Finalizes Plan for Targeted FAS 167 Deferral

Tammy Whitehouse January 29, 2010

The Financial Accounting Standards Board has decided to go ahead with a proposed deferral for certain elements of its new consolidation requirements. The final Accounting Standards Update is being drafted by FASB staff and is expected to be published in mid-February.At a regular weekly meeting, the Board reviewed comments to...

FASB Finalizes Changes on Consolidation, Equity

Tammy Whitehouse January 07, 2010

The Financial Accounting Standards Board has issued some new updates to the Accounting Standards Codification to revise existing rules on consolidation, equity, and oil and gas reserve accounting.In Accounting Standards Update No. 2010-02, the FASB clarifies the types of transactions that should be accounted for as a decrease in ownership...

FASB Prepares to Publish Final Accounting Standards

Tammy Whitehouse June 04, 2009

The Financial Accounting Standards Board will issue its last three accounting standards in the coming weeks, two of them next week when it publishes new statements of accounting related to off-balance-sheet activity.“This doesn’t mean we’re going home and shutting down the lights,” said FASB Technical Director Russell Golden in an...

FASB Stands Firm on 2008 Off-Balance-Sheet Disclosures

Tammy Whitehouse November 13, 2008

Despite calls for more time, the Financial Accounting Standards Board will proceed with planned disclosure requirements around off-balance-sheet activity to take effect for fiscal periods ending after Dec. 15, 2008. That means calendar-year companies will be expected to begin making the new disclosures in their 2008 financial statements.FASB determined at...

FASB, IASB Outline Strategy for Credit Crisis Response

Tammy Whitehouse October 24, 2008

Accounting rulemakers are providing a little more detail about how they plan to respond to the global financial meltdown.The Financial Accounting Standards Board and the International Accounting Standards Board plan to host roundtables in Europe, Asia, and North America to air views on what kinds of reporting issues are of...

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