Transcription of Consolidation (Topic 810) - FASB
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No. 2014-07. March 2014. Consolidation ( topic 810 ). Applying Variable Interest Entities Guidance to Common Control Leasing Arrangements a consensus of the Private Company Council An Amendment of the FASB Accounting Standards Codification . The FASB Accounting Standards Codification is the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities. An Accounting Standards Update is not authoritative; rather, it is a document that communicates how the Accounting Standards Codification is being amended. It also provides other information to help a user of GAAP understand how and why GAAP is changing and when the changes will be effective. For additional copies of this Accounting Standards Update and information on applicable prices and discount rates contact: Order Department Financial Accounting Standards Board 401 Merritt 7.
As part of the amendments, the Board also removed implementation guidance codified from FASB Staff Position No. FIN 46(R)-5, Implicit Variable Interests under FASB Interpretation No. 46 (revised December 2003). The removal of the example in paragraphs 810-10-55-87 through 55-89 applies to all entities within the scope of Topic 810, Consolidation.
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