Wiley GAAP 2015: Interpretation and Application of Generally Accepted Accounting Principles 2015

Chapter 47ASC 810 CONSOLIDATIONS

PERSPECTIVE AND ISSUES

   Subtopics

   Scope and Scope Exceptions

   Overview

   Technical Alert

DEFINITIONS OF TERMS

CONCEPTS, RULES, AND EXAMPLES

   Special-Purpose Entities and Variable Interest Entities

   ASC 810-20, Control of Partnerships and Similar Entities

   ASC 810-30, Research and Development Arrangements

   Other Sources

PERSPECTIVE AND ISSUES

Subtopics

ASC 810, Consolidations, consists of three subtopics:

• ASC 810-10, Overall, which has three subsections:
  • General
  • Variable Interest Entities
  • Consolidation of Entities Controlled by Contract
• ASC 810-20, Control of Partnerships and Similar Entities, which addresses the potential consolidation of those entities
• ASC 810-30, Research and Development Arrangements, which provides direction on whether and how those arrangements should be consolidated.

Scope and Scope Exceptions

ASC 810-10. The following are excluded from the scope of the subtopics and sections of ASC 810-10 governing variable interest entities (VIE) (ASC 810-10-15-17 et seq.):

1. Not-for-profit organizations unless the organization was organized to avoid VIE status. It is important to note, however, that a not-for-profit organization can be a related party for the purpose of determining the primary beneficiary (parent) of a VIE by applying ASC paragraphs 810-10-25-42 through 44.
2. Employers are not to consolidate an employee benefit plan subject to ASC 712, Nonretirement Postemployment Benefits) or to ASC 715, Retirement ...