U.S. GAAP Codification of Accounting Standards

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U.S. GAAP Accounting Standards
Codification Topic 810: Consolidation
Noncontrolling Interests


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Securities Law Library,  Accounting by Topic Accounting Terms Dictionary


Codification Topic 810
Consolidation
Noncontrolling Interests



Noncontrolling Interests (NCI)

SFAS 160 amended ARB 51 in December 2007
ARB 51 was issued in 1959

SFAS 160, December 2007
"Noncontrolling Interests in Consolidated Financial Statements´┐Ż an amendment of ARB No. 51"

ARB 51, August 1959
"Consolidated Financial Statements"

Effective date of SFAS 160
Fiscal years and interim periods within those fiscal years
--> beginning on or after December 15, 2008
--> earlier adoption is not allowed

Presentation and disclosures
--> are applied to all periods presented

Noncontrolling interests (NCI)
--> presented within equity
--> separately from the parent's equity

Consolidated net income
--> includes the NCI portion of net income 

Consolidated comprehensive income
--> includes the NCI portion of comprehensive income 

Before SFAS 160
--> Minority interest cannot have a deficit balance
--> Excess losses attributable to minority interest 
--> are charged to the majority interest

After SFAS 160
--> NCI can have a deficit balance
--> All losses attributable to NCI
--> are charged to NCI


International Financial Reporting Standards (IFRS)

   IAS 27: Consolidated and separate financial statements


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   Codification Topic 810
   Consolidation
 
Subtopics of Codification Topic 810
 
   810-10 Overall
   810-20 Control of partnerships and similar entities
   810-30 Research and development arrangements
 
Accounting Terms of Codification Topic 810-10
 
   Acquirer
   Acquisition, development, and construction arrangements
   Business
   Business combination
   Combined financial statements
   Consolidated financial statements
   Consolidated group
   Development stage entity
   Expected losses
   Expected losses and expected residual returns
   Expected residual returns
   Expected variability
   Legal entity
   Nominee shareholder
   Noncontrolling interest
   Nonpublic entity
   Not-for-profit entity
   Owners
   Parent
   Primary beneficiary
   Publicly traded entity
   Qualifying special-purpose entity
   Subordinated financial support
   Subsidiary
   Underlying
   Variable interest entity
   Variable interests
 
Accounting Terms of Codification Topic 810-20
 
   Kick-out rights
   Ordinary course of business
   Participating rights
   Protective rights
   With cause
   Without cause

 
Accounting Terms of Codification Topic 810-30
 
   Sponsor

 

 

   Other Topics at the Codification 800 
Accounting Standards Codification, ASC, Overview
 
ASC Codification Topic 805: Business Combinations
ASC Codification Topic 808: Collaborative Arrangements
 
ASC Codification Topic 810: Consolidation
ASC Codification Topic 815: Derivatives and Hedging
 
ASC Codification Topic 820: Fair Value Measurements and Disclosures
ASC Codification Topic 825: Financial Instruments
 
ASC Codification Topic 830: Foreign Currency Matters
ASC Codification Topic 835: Interest
 
ASC Codification Topic 840: Leases
ASC Codification Topic 845: Nonmonetary Transactions
 
ASC Codification Topic 850: Related Party Disclosures
ASC Codification Topic 852: Reorganizations
ASC Codification Topic 855: Subsequent Events
 
ASC Codification Topic 860: Transfers and Servicing


   U.S. GAAP Codification of Accounting Standards
Accounting Standards Codification, ASC, Overview
ASC Codification 200: Presentation
ASC Codification 300: Assets
ASC Codification 400: Liabilities
ASC Codification 500: Equity
ASC Codification 600: Revenue
ASC Codification 700: Expenses
ASC Codification 800: Broad Transactions
ASC Codification 900: Industry

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