Through real-world examples and case studies, you will examine and learn specifically about FASB ASC 810. This course focuses on the testing utilized to determine if an organization qualifies as a variable interest entity. At the conclusion of this session you will be able to:
- Identify whether the holders of the total equity investment at risk have the ability to make decisions or direct the activities of the entity.
- Recognize whether the holders of the equity investment at risk have an obligation to absorb the entity’s expected losses or a right to receive the entity’s expected residual results.
- Recognize when the voting rights of some of the equity investors are not proportional to the economic interests.
- Name the anti-abuse provisions of ASC 810.
- Identify whether a variable interest is also held by either related parties, de facto agents, or de facto principals and whether combination of the variable interests in the VIE constitute primary beneficiary status.
- Identify whether the reporting entity is the member of the related party group most closely associated with the VIE.
- Define primary beneficiary and recognize whether the company is the primary beneficiary.
- Identify whether an entity has a significant variable interest in a VIE even when not the primary beneficiary and recognize proper disclosure requirements for VIE’s.
- Disclosure requirements for public companies.
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