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A Standard Setting Perspective on Current Issues Facing the Accounting Profession - page 15 / 29

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Voting interest does not convey control

Operating Co. A

Entity designed to achieve a special purpose

Lenders to Entity

Owners (?)

Observations:  

Operating Co. A does not own the Entity

The Entity’s business arrangements are with Operating Co. A

Typically, the Entity is highly leveraged.  Co. A  (or another entity) may guarantee the loan from lenders to Entity.

SPE (Special Purpose Entity) is used to describe a wide variety of structures.  However, there is no agreed-on definition of “SPE.”

Guarantee (?)

Business arrangements

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