Expanded consolidation relief for private companies

Back in 2014, FASB initially provided variable interest entity (VIE) consolidation relief to certain common control leasing arrangements. While this was great as common control leasing arrangements were probably the most frequent occurrence that led to consolidation of a VIE, there has always been hope that this alternative would be expanded to all common control …

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Governments capitalizing interest, a thing of the past

In the beginning there was capitalized interest, and some found it was good. Then, GASB decided to shed some light on this topic – now, capitalizing interest is just a thing of the past. While governmental activities generally don’t incur capitalized interest on projects in the construction phase, business-type activities were permitted to do so, …

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