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Deloitte Alerts Companies to Prepare for New Consolidation Rules

Tammy Whitehouse | October 9, 2014

Although focused primarily on the investment management industry, new guidance expected by the end of the year on consolidations could become a big deal for companies in other industries as well.

Accountants are starting to advise companies to get familiar with what the Financial Accounting Standards Board is planning to publish in the fourth quarter of 2014 to provide new criteria for companies to help determine when a decision maker is using its power as a principal or an agent, which could affect whether a particular business unit should be consolidated to a given company’s financial statements. The guidance is expected to affect an entity’s evaluation of whether limited partnerships and similar entities should be consolidated, whether variable interested held by a company’s related parties affect the consolidation conclusion, and whether fees paid to a decision maker or...

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