FIN 46 -- Consolidation of Variable Interest Entities

A SSURANCE AND A DVISORY BUSINESS S ERVICES F EBRUARY 2004 Financial Reporting Developments FASB Interpretation No. 46, Consolidation of Variable Interest Entities !@#

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Page 4 and 5: T O O UR CLIENTS AND OTHER F RIENDS
Page 6 and 7: CONTENTS 4-8 Qualifying Special-Pur
Page 8 and 9: CONTENTS 5(c)-3 Limited Partnership
Page 10 and 11: CONTENTS 12-7 Variable Rate Liabili
Page 12 and 13: CONTENTS Accounting After Initial M
Page 14 and 15: CONTENTS This Publication’s Struc
Page 16 and 17: INTRODUCTION If the answer to eithe
Page 18 and 19: DEFINITIONS OF TERMS Interpretive G
Page 20 and 21: U SE OF THE TERM E NTITY Use of the
Page 22 and 23: U SE OF THE TERM E NTITY 3-2 Portio
Page 24 and 25: U SE OF THE TERM E NTITY 3-4 Majori
Page 26 and 27: SCOPE g. An enterprise with an inte
Page 28 and 29: SCOPE be limited as to the assets i
Page 30 and 31: SCOPE The Board believes situations
Page 32 and 33: SCOPE would weigh heavily that beca
Page 34 and 35: SCOPE A leveraged ESOP issues debt
Page 36 and 37: SCOPE 4-8 Qualifying Special-Purpos
Page 38 and 39: SCOPE Analysis Although RIC is the
Page 40 and 41: SCOPE be applied to an entity whose
Page 42 and 43: SCOPE 4-14 Business Scope Exception
Page 44 and 45: SCOPE C8. The determination of whet
Page 46 and 47: SCOPE A joint venture is an arrange
Page 48 and 49: SCOPE 4-18 Determining Whether Subs
Page 50 and 51: SCOPE 4-20 Could an Enterprise Be R
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SCOPE However, in order to be subje
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VARIABLE INTEREST ENTITIES (3) The
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VARIABLE INTEREST ENTITIES coupon o
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VARIABLE INTEREST ENTITIES • Pref
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VARIABLE INTEREST ENTITIES Because
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VARIABLE INTEREST ENTITIES The foll
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VARIABLE INTEREST ENTITIES 5(a)-8 Q
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VARIABLE INTEREST ENTITIES 5(a)-11
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VARIABLE INTEREST ENTITIES Analysis
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VARIABLE INTEREST ENTITIES based on
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VARIABLE INTEREST ENTITIES Partners
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VARIABLE INTEREST ENTITIES Analysis
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VARIABLE INTEREST ENTITIES Interpre
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VARIABLE INTEREST ENTITIES entity a
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VARIABLE INTEREST ENTITIES 5(b)(1)-
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VARIABLE INTEREST ENTITIES entity
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VARIABLE INTEREST ENTITIES 5(b)(1)-
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VARIABLE INTEREST ENTITIES 5(b)(1)-
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VARIABLE INTEREST ENTITIES Excerpt
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VARIABLE INTEREST ENTITIES provided
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VARIABLE INTEREST ENTITIES Question
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VARIABLE INTEREST ENTITIES Analysis
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VARIABLE INTEREST ENTITIES and FAQs
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VARIABLE INTEREST ENTITIES 4. A var
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VARIABLE INTEREST ENTITIES 5(b)(2)-
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VARIABLE INTEREST ENTITIES Analysis
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VARIABLE INTEREST ENTITIES Analysis
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VARIABLE INTEREST ENTITIES that cir
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VARIABLE INTEREST ENTITIES Facts A
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VARIABLE INTEREST ENTITIES 5(b)(3)-
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VARIABLE INTEREST ENTITIES We belie
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VARIABLE INTEREST ENTITIES 5(c)-3 Q
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VARIABLE INTEREST ENTITIES The LLC
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VARIABLE INTEREST ENTITIES 5(c)-6 I
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INITIAL DETERMINATION OF VIE STATUS
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INITIAL DETERMINATION OF VIE STATUS
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RECONSIDERATION EVENTS Reconsiderat
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RECONSIDERATION EVENTS FAQs 7-1 Com
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RECONSIDERATION EVENTS as to mainta
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RECONSIDERATION EVENTS risk equity
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RECONSIDERATION EVENTS 7-8 Distribu
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RECONSIDERATION EVENTS 7-10 Adoptio
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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EXPECTED LOSSES AND EXPECTED RESIDU
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DEMONSTRATING THE SUFFICIENCY OF A
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DEMONSTRATING THE SUFFICIENCY OF A
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DEMONSTRATING THE SUFFICIENCY OF A
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DEVELOPMENT STAGE ENTERPRISES Devel
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DEVELOPMENT STAGE ENTERPRISES The f
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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VARIABLE INTERESTS AND INTERESTS IN
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SILOS Silos Excerpt from Interpreta
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SILOS This was clarified in FASB St
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SILOS appreciates in value, Company
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SILOS 13-3 Stand-Alone Financial St
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SILOS 13-5 Illustrative Examples Qu
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SILOS Assets Liabilities and Equity
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CONSOLIDATION BASED ON VARIABLE INT
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CONSOLIDATION BASED ON VARIABLE INT
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RECONSIDERATION OF THE PRIMARY BENE
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RECONSIDERATION OF THE PRIMARY BENE
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RELATED PARTIES AND DE FACTO A GENT
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RELATED PARTIES AND DE FACTO A GENT
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RELATED PARTIES AND DE FACTO A GENT
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DETERMINING THE PRIMARY BENEFICIARY
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DETERMINING THE PRIMARY BENEFICIARY
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DETERMINING THE PRIMARY BENEFICIARY
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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INITIAL MEASUREMENT AND CONSOLIDATI
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A CCOUNTING A FTER INITIAL MEASUREM
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A CCOUNTING A FTER INITIAL MEASUREM
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A CCOUNTING A FTER INITIAL MEASUREM
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DISCLOSURES Disclosures Excerpt fro
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DISCLOSURES FAQs 23-1 Public Compan
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DISCLOSURES • Partnerships Consol
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DISCLOSURES December 201X. At any t
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DISCLOSURES Post Adoption During 19
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DISCLOSURES Post Adoption The Compa
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DISCLOSURES the general partner and
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EFFECTIVE DATE Nonpublic Entities 3
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EFFECTIVE DATE In accordance with t
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EFFECTIVE DATE would be accounted f
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EFFECTIVE DATE Based on informal di
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TRANSITION Transition Excerpt from
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TRANSITION B. If the VIE and primar
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TRANSITION not be reflected in the
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TRANSITION Annual rental payments d
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TRANSITION Income Statement Year En
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TRANSITION primary beneficiary of t
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TRANSITION Example 2—Primary Bene
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A PPENDIX A —STEP-BY- STEP GUIDE
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A PPENDIX B— VARIABLE INTEREST EN
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A PPENDIX B— VARIABLE INTEREST EN
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A PPENDIX B— VARIABLE INTEREST EN
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A PPENDIX B— VARIABLE INTEREST EN
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX C— EXAMPLE VIE ANALYSIS
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A PPENDIX D—A CCOUNTING FOR T RUS
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A PPENDIX D—A CCOUNTING FOR T RUS
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A PPENDIX D—A CCOUNTING FOR T RUS
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A PPENDIX D—A CCOUNTING FOR T RUS
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A PPENDIX E—A PPLICATION OF FASB
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A PPENDIX E—A PPLICATION OF FASB
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A PPENDIX E—A PPLICATION OF FASB
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A PPENDIX E—A PPLICATION OF FASB
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A PPENDIX E—A PPLICATION OF FASB
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A PPENDIX E—A PPLICATION OF FASB
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A PPENDIX F—A PPLICATION OF FASB
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A PPENDIX F—A PPLICATION OF FASB
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A PPENDIX F—A PPLICATION OF FASB
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A PPENDIX G— SUMMARY AND STATUS O
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A PPENDIX G— SUMMARY AND STATUS O
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amounts are to be considered in det
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(1) The reporting enterprise, its r
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7. An entity that previously was no
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the holder has another variable int
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17. If two or more related parties
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. The carrying amount and classific
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immediately. A nonpublic enterprise
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1 This inability to obtain the nece
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XXX

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