Proposed Accounting Standards Update EITF11A—Consolidation (Topic 810)

The objective of this proposed Update is to resolve the diversity in practice about whether Subtopic 810-10, Consolidation—Overall, or Subtopic 830-30, Foreign Currency Matters—Translation of Financial Statements, applies to the release of the cumulative translation adjustment into earnings when a parent no longer holds a controlling financial interest in a group of assets that is a nonprofit activity or a business (other than a sale of in substance real estate or conveyance of oil and gas mineral rights) within a consolidated foreign entity.

For more information, see the following:

Issued: December 8, 2011

Comments Due: February 6, 2012

The Exposure Draft identifies the Codification Sections that may be changed upon issuance of this guidance.

• 220-10-45-1
• 810-10-40-1
• 830-30-40-1
• 830-30-45-1
• 810-10-65-1