Fasb Interpretation No 46 Consolidation Of Variable Interest Entities
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Fasb Interpretation No 46 Consolidation Of Variable Interest Entities
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Author : Financial Accounting Standards Board
language : en
Publisher:
Release Date : 2003
Fasb Interpretation No 46 Consolidation Of Variable Interest Entities written by Financial Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Corporate debt categories.
Fasb Interpretation No 46
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Author :
language : en
Publisher:
Release Date : 2003
Fasb Interpretation No 46 written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Interest categories.
Consolidation Of Variable Interest Entities
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Author :
language : en
Publisher:
Release Date : 2003
Consolidation Of Variable Interest Entities written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Assets (Accounting) categories.
Kmpg Guide To Consolidation Of Variable Interest Entities
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Author : Financial Accounting Standards Board
language : en
Publisher:
Release Date : 2004
Kmpg Guide To Consolidation Of Variable Interest Entities written by Financial Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Corporate debt categories.
An Analysis Of Firms Impacted By Fasb Interpretation No 46r Consolidation Of Variable Interest Entities
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Author : Mary Mindak
language : en
Publisher:
Release Date : 2009
An Analysis Of Firms Impacted By Fasb Interpretation No 46r Consolidation Of Variable Interest Entities written by Mary Mindak and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
This study investigates firms impacted by FASB Interpretation No. (FIN) 46R -- the consolidation of variable interest entities. A comparison is performed between firms who disclose an impact from a FIN 46R action to firms who have no disclosure of a FIN 46R action. This comparison allows me to analyze the firms in relation to certain firm characteristics (agency cost proxies, board characteristics and managerial ownership) and to also perform a market reaction study. Through an extensive data collection process, firm's information was collected from their 10Q and 10K SEC filings to extract firm-specific information on FIN 46R expected and actual adoption. The first part of the analysis investigates management's decision to disclose information on FIN 46R. The disclosure/action firms are found to be positively associated with firm size, financial leverage and the high probability attribute set by early disclosure information. Firm size and financial leverage captures the agency cost incentives in place that encourage managers to provide information to the market about firm risk. This paper also investigates market reactions to FIN46R information. The analysis finds significant market reactions to FASB News events occurring prior to firm's adoption of FIN 46R; however, the results show insignificant market reactions to firm-specific information on their impact or expected impact from the adoption of FIN 46R.
Consolidation Of Variable Interest Entities
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Author :
language : en
Publisher:
Release Date : 2003
Consolidation Of Variable Interest Entities written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Interest categories.
A Ripple Turns Into A Wave
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Author : Friedemann Kirchhof
language : en
Publisher:
Release Date : 2004
A Ripple Turns Into A Wave written by Friedemann Kirchhof and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
An Examination Of The Cost Of Capital Implications Of Financial Interpretation 46
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Author : Carolyn M. Callahan
language : en
Publisher:
Release Date : 2012
An Examination Of The Cost Of Capital Implications Of Financial Interpretation 46 written by Carolyn M. Callahan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
This study examines whether adoption in 2003 of FASB Interpretation No. 46/R (FIN 46), Consolidation of Variable Interest Entities - an Interpretation of ARB No. 51, changes the cost of capital for affected firms. Using comparative analysis on a broad sample of 11,719 firm-quarter observations for 1,389 firms during the period 1998 through 2005, we find evidence FIN 46 significantly increased the cost of equity capital for firms with affected variable interest entities (VIEs), an increase of approximately 50 basis points relative to firms reporting no material effect from the standard. Further, firms consolidating these formerly off-balance sheet structures experienced the largest increase. Taken together, these results suggest that FIN 46 reduced the opportunity for firms to use off-balance sheet structures to artificially reduce their cost of capital, a matter of regulatory concern.
Consolidation Of Variable Interest Entities
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Author : Alan Reinstein
language : en
Publisher:
Release Date : 2008
Consolidation Of Variable Interest Entities written by Alan Reinstein and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Financial Accounting Standards Interpretation [FIN] No. 46 (R) provides guidance for investors, sponsors and transferors in ascertaining which variable interest entities should form part of relevant parties' financial statements. Given the complexity of this authoritative pronouncement, we show how a consultant, using an organized approach, helped a CPA firm adhere to this new pronouncement. The appended exhibits and associated explanations should help CPAs implement these provisions and provide guidance for helping companies and clients conform to these complex accounting pronouncements.
Altering Investment Decisions To Manage Financial Reporting Outcomes
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Author : Daniel A. Bens
language : en
Publisher:
Release Date : 2007
Altering Investment Decisions To Manage Financial Reporting Outcomes written by Daniel A. Bens and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
We evaluate the manner in which sponsors of highly leveraged asset-backed commercial paper (ABCP) conduits responded to FASB Interpretation No. 46 (FIN 46), Consolidation of Variable Interest Entities an Interpretation of ARB No. 51, and its Canadian counterpart Accounting Standards Board of Accounting Guideline 15 (AcG-15), Consolidation of Variable Interest Entities. By matching commercial paper investors with corporations seeking liquidity, ABCP sponsors facilitate a significant amount of short-term, securitized financing in the U.S. FIN 46 and AcG-15 require sponsors to consolidate their ABCP conduits with their GAAP financial statements. We demonstrate that the volume of ABCP began to decline when FIN 46 was first proposed, and that this decline is primarily attributable to a reduction in North American banks' sponsorship of ABCP. We also demonstrate that North American banks entered into costly restructuring arrangements to avoid having to consolidate their conduits per the new accounting standards. Our results suggest that in certain settings, accounting standards appear to have real effects on investment activity and product-market competition.