Accounting and reporting

FASB issues proposal for consolidation of VIEs

The US Financial Accounting Standards Board proposed an Accounting Standard Update (ASU) designed to simplify and improve financial reporting associated with consolidation of variable-interest entities (VIEs).

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Credit loss standard implementation tips

Strengthening partnership between finance and the credit loss group may be the first step in an implementation process that a Deloitte survey shows many banks have already started.