VIE Consolidation Model: Identifying Primary Beneficiary; Reporting and Disclosure Rules (Portfolio 5175)
This Portfolio explains how to characterize and treat transfers of financial assets and how to account for servicing assets and servicing liabilities.
Bloomberg Tax and Accounting Portfolio 5175, VIE Consolidation Model: Identifying Primary Beneficiary; Reporting & Disclosure Rules explains and analyzes U.S. Generally Accepted Accounting Principles (GAAP) relating to the variable interest entity (VIE) consolidation model. The Portfolio discusses in detail the identification of the primary beneficiary of a VIE (the entity that is required to consolidate the VIE).
This Portfolio also provides detailed discussion of the reporting and disclosure rules applicable to any variable interest holder in a VIE. The Portfolio includes several sample SEC Comments to assist with identifying areas of concern and developing solutions to reporting problems.
This Portfolio is the second of two Portfolios dedicated to coverage of VIEs. The first Portfolio, APP 5174, VIE Consolidation Model: Identifying Variable Interests and Entities Considered VIEs, focuses on the scope of the VIE consolidation model, the identification of variable interests and the identification of variable interest entities.
This Portfolio may be cited as Bloomberg Tax and Accounting Portfolio 5175, Starczewski and Sebik, VIE Consolidation Model: Identifying Primary Beneficiary; Reporting & Disclosure Rules (Accounting Policy and Practice Series).
Table of Contents
I. Overview & Scope of Portfolio
II. VIE Consolidation Model
III. Determining Whether a Reporting Entity Is the Primary Beneficiary of a VIE
IV. Primary Beneficiary’s Accounting for VIE Assets, Liabilities & Noncontrolling Interests
V. Disclosure Requirements Related to Involvement VIEs
VI. SEC Comment Letters
Director, Tax Reporting