Handbook   |   January 2019
 

Handbook: Consolidation of VIEs

KPMG’s latest guidance on and interpretation of ASC 810-10. KPMG explains the consolidation of VIEs, with in-depth analysis and examples.

Applicability

Relevant date

  • Effective immediately

Key impacts

  • Provides interpretive guidance on VIEs under ASC 810-10, including illustrative examples and Q&As, and addresses specific accounting issues
  • Incorporates ASU 2015-02, Consolidation (ASC 810): Amendments to the consolidation analysis
  • Incorporates ASU 2016-17, Consolidation (ASC 810): Interests held through related parties that are under common control
  • Incorporates ASU 2017-02, Not-for-Profit Entities  Consolidation (ASC 958-810): Clarifying when a not-for-profit entity that is a general partner or a limited partner should consolidate a for-profit limited partnership or similar entity
  • Incorporates ASU 2018-17, Consolidation (ASC 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities 

Report contents

  • Scope
  • Variable interests
  • Variable interest entity determination and reconsideration
  • Silos
  • Primary beneficiary determination and reconsideration
  • Related parties and de facto agency relationships
  • Initial measurement and subsequent accounting for a consolidated VIE
  • Presentation and disclosure
  • Effective date and transition
  • Expected losses and expected residual returns

Related content

Spotlight on contributors

 

Angie Storm

Angie Storm

Partner, Dept. of Professional Practice, KPMG (US)

+1 212-909-5488
Brian Fields

Brian Fields

Partner, DPP, KPMG (US)

+1 212-872-3397

 

 

Subscribe to our newsletter

Receive timely updates on accounting and financial reporting topics from KPMG.



Accounting Research Online

Visit KPMG's accounting research website for additional resources for your financial reporting needs.