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FASB issues as final five staff positions on
Interpretation no. 46,
Consolidation of Variable Interest Entities
(
www.fasb.org/fasb_staff_positions/final_fsp.shtml ). The
guidance addresses the interpretation’s applicability to organizations
subject to the AICPA Audit and Accounting Guide,
Health Care
Organizations: Checklist and Illustrative Financial Statement,
and the treatment of variable interests in specified assets of a
variable interest entity. It also discusses transition requirements
for applying the interpretation and calculating expected losses.
