Business & Finance homework help.
Non-Controlling Interest [WLOs: 1, 2, 3, 4, 5, 6] [CLOs: 1, 2, 3, 4, 5]
Prior to beginning work on this discussion forum, review Chapters 3 and 4 of the text and read the article .
Write: Make sure your response addressing the following questions is more than 200 words and that you include a brief paraphrase or direct quote from the reading material where appropriate. Include proper in-text citations for each paraphrase or direct quote as shown in the UAGC Writing Centers Citing Within Your Paper (Links to an external site.) guide.
Discussion Questions
The FASB ASC paragraph 810-10-45-16 states, The non-controlling interest shall be reported in the consolidated statement of financial position within equity, separately from the parents equity. That amount shall be clearly identified and labeled, for example, as non-controlling interest in subsidiaries.
However, prior to issuing this current reporting requirement, the FASB considered several alternative display formats for the non-controlling interest. Access the pre-codification standard, SFAS 160, titled Non-controlling Interest in Consolidated Financial Statements, at the website to answer the following questions:
- What alternative financial statement display formats did the FASB consider for the non-controlling interest?
- What criteria did the FASB use to evaluate the desirability of each alternative?
In what specific ways did FASB Concept Statement 6 affect the FASBs evaluation of these alternatives?