• Course Information

    Title: Variable Interest Entities - The New Rules
    Category: Accounting and Auditing
    Field of Study: Accounting
    Course Code: A012-0258
    CPE Credits: 12.0
    Price: $79.95
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This course presents the consolidation of variable interest entity rules found in ASC 810, Consolidation ( previously found in FASB Interpretation No.46R, Consolidation of Variable Entities-An Interpretation of ARB No. 51, as amended by FASB No. 167, Amendments to FASB Interpretation No. 46R (FIN 46R)), in a comprehensive format. Following the review of the old rules for consolidation of special purpose entities (SPEs) and the background on consolidations are the general rules of FIN 46R. These include the application of FIN 46R and the special exemptions from FIN 46R. The basic rules of FIN 46R, which include three requirements, are covered in complete detail throughout the remaining course material.

Delivery Method: Interactive Self-Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Steven C. Fustolo

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 02/28/2013

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Section 1:      
1. Recognize consolidated vs. combined statements
2. Identify a variable interest entity
3. Recognize how the consolidation rules apply to a controlling financial interest
4. Identify some of the special exemptions found in FIN 46R
5. Identify the elements of a business

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QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

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