Category Archives: Accounting

Private Companies– Consolidation Accounting Requirements Relief May Be on the Way!

Back in 2009, a little accounting interpretation called FIN 46 struck fear in the hearts of many a small business and the accountants that serve them.  FIN 46 (FASB Interpretation No. 46(R)) required companies with variable interest entities (VIE) to consolidate their financial statements.  Oftentimes related party lease arrangements were considered to be VIE’s and thus were required to be consolidated or not comply with Generally Accepted Accounting Standards.

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