The expected substantive residual risks, substantially all the residual rewards of the leased asset(s), and the obligation imposed by the underlying debt of the SPE directly or indirectly reside with the lessee.Substantially all of the SPE’s activities involve assets that are to be leased to a single lessee.
NFPs apply the guidance in ASC 958-810-25-8 through ASC 958-810-25-10, Not-for-Profit Entities: Consolidation-Special-Purpose Leasing Entities, which largely predates the variable interest entity guidance. Under that guidance, an NFP lessee must consolidate an SPE lessor if all three of the following conditions exist: Business entities utilize the variable interest entity subsections of ASC 810-10, which are not applicable to NFPs. When evaluating SPE leasing entities for consolidation, NFPs apply different requirements than business entities. Transfers and servicing of financial assets Revenue from contracts with customers (ASC 606) Loans and investments (post ASU 2016-13 and ASC 326) Investments in debt and equity securities (pre ASU 2016-13) Insurance contracts for insurance entities (pre ASU 2018-12) Insurance contracts for insurance entities (post ASU 2018-12) IFRS and US GAAP: Similarities and differences Business combinations and noncontrolling interestsĮquity method investments and joint ventures
0 kommentar(er)
