Course Information

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FAS 160, Noncontrolling Interests in Consolidated Financial Statements
Author: Steven C. Fustolo, CPA

Description:
This course examines FAS 160, which represents a joint effort of the FASB and the IASB under the international convergence project. Their goal is to improve the accounting for and reporting of noncontrolling interests in consolidated financial statements. FAS 160 aligns the reporting of noncontrolling interests with the requirements of recently issued IAS 27, Consolidated and Separate Financial Statements. FAS 160 also eliminates the inconsistencies in practice as to how to report noncontrolling interests in financial statements. Topics covered in this course include:

  • Presentation on Balance Sheet
  • Presentation of Income and Comprehensive Income
  • Changes in Parent’s Ownership Interest in a Subsidiary
  • Deconsolidation of a Subsidiary

Course Details:
Price:  $30.00
Field of Study:  Accounting
Prerequisites:  Basic knowledge of accounting for noncontrolling interests
Level:  Overview
Advanced Preparation:  None
Course was last updated on:  10/01/08
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Library:
Learning Center Core

Technical Requirements:
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Credit Available For: Units
CPE 2.0 CPE
QAS 2.0 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

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