Accounting Standards Update · 2014
ASU 2014-07 — Consolidation (Topic 810)
Affects810 Consolidation
The amendments in this Update permit a private company lessee (the reporting entity) to elect an alternative not to apply VIE guidance to a lessor entity under common control when certain conditions are met.
This Accounting Standards Update is the final version of Proposed Accounting Standards Update PCC-13-02—Consolidation (Topic 810), which has been deleted.
Issued: March 20, 2014
Text as published in the FASB Accounting Standards Codification, Basic View.