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A Standard Setting Perspective on Current Issues Facing the Accounting Profession - page 17 / 29

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17

Assessing control when voting interest does not convey control

Question:  Under what circumstances is it not appropriate to assess controlling financial interest by analyzing voting (equity) interests?

Question:  Under what circumstances would Operating Co. A have a controlling financial interest in Entity, even though A does not own any of Entity’s equity?

Interpretation 46R provides guidance for answering these questions

Suggests qualitative assessments but

Provides for quantitative analysis to determine who (if anyone) should consolidate the entity

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