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A Standard Setting Perspective on Current Issues Facing the Accounting Profession - page 13 / 29

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Defining the reporting entity:  consolidation

Quantitative approaches to defining control

Problems arise when control exists or can exist without a majority equity voting interest

Latent control:  holder of an instrument (e.g., a convertible debenture or an option to purchase shares) that can be converted to a majority voting interest or exercised to obtain a majority voting interest

Straw man:  holder of a substantial minority interest has an arrangement with a related party who holds sufficient shares to give the holder a majority interest

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