FASB Statement No. 167: Ongoing Challenges With Consolidating Variable Interest Entities

Tackling Issues With Filing Compliant Financials Until the Standard is Updated

Recording of a 110-minute CPE webinar with Q&A

Conducted on Tuesday, September 25, 2012

Recorded event now available

or call 1-800-926-7926
Course Materials

This teleconference will offer accounting advisors lessons for dealing with the most complex choices with variable interest entities under FAS 167 (ASU 2009-17).


FASB continues to ponder significant revisions to Statement No. 167 (ASU 2009-17) to align it with international consolidation guidance and alter how asset managers account for investments. Meanwhile, properly accounting for variable interest entities on the balance sheet poses tough challenges for advisors.

Advisors are guiding taxpayers in filing financials compliant with FAS 167's revised criteria for determining an entity's VIE status, based on a company's "obligations" and "power" over an entity rather than ownership percentage or absorption of losses; using disclosure rules to explain consolidation decisions.

As accounting professionals have learned the last couple of years, little is simple and easy with VIE decisions under FAS 167. Issues ranging from what meets the VIE definition to disclosure requirements to explain consolidation decisions all pose new intricacies and challenges.

Listen as our panel of experienced advisors guides you through their experiences and lessons learned from the toughest issues arising with preparing FAS 167-compliant financials.



  1. Material terms of FAS 167 (ASU 2009-17)
    1. Expanded definition of VIE
    2. Determining the primary beneficiary
    3. Power-sharing
  2. Efforts to revise FAS 167
    1. Proposed revisions for commonality with IASB approach
    2. Proposed revisions related to investment companies/principal-agent
    3. Status of each
  3. Continuing challenges from FAS 167 implementations
    1. Accounting interpretation issues
    2. Financial statement issues
    3. Operational issues


The panel will address these and other critical aspects:

  • FAS 167 overhaul: The bottom line and status of proposed improvements to the standard, and when to expect final action.
  • Material terms of FAS 167: Determining when to consolidate VIEs, understanding the concept of economic power and others.
  • FAS 167-compliant financials: Options for dealing with the most difficult challenges continuing to arise under FAS 167.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.


Ashima Jain
Ashima Jain
Managing Director, National Office

She provides technical advice on complex accounting matters to clients and firm personnel, particularly involving...  |  Read More

Mark Winaiarski
Mark Winaiarski
CBIZ MHM & Mayer Hoffman McCann

He has worked with the firm for eight years, and helped develop its internal VIE analysis practice aid and national...  |  Read More

Peggy Gallagher
Peggy Gallagher
Director, Professional Practices Group

She has 25 years of accounting and auditing experience and helps develop the firm's technical training and seminars....  |  Read More

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