Abstract
Financial Accounting Standards Interpretation [FIN] No. 46 (R) provides guidance for investors, sponsors and transferors in ascertaining which variable interest entities should form part of relevant parties' financial statements. Given the complexity of this authoritative pronouncement, we show how a consultant, using an organized approach, helped a CPA firm adhere to this new pronouncement. The appended exhibits and associated explanations should help CPAs implement these provisions and provide guidance for helping companies and clients conform to these complex accounting pronouncements.
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