Filed under: Consolidation
KPMG reports on ASU 2018-17. The ASU provides a new private company variable interest entity exemption and changes how decision makers apply the variable interest criteria.
All entities that are required to determine whether they should consolidate a legal entity under the variable interest entity (VIE) guidance, including private companies that have elected the common control leasing alternative.
|
Other Entities |
Private companies |
Annual periods in fiscal years beginning after |
December 15, 2019 |
December 15, 2020 |
Interim periods in fiscal years beginning after |
December 15, 2019 |
December 15, 2021 |
Early adoption allowed? |
Yes, including adoption in an interim period |
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