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A Standard Setting Perspective on Current Issues Facing the Accounting Profession - page 18 / 29

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Difficulties in applying the concept of control to defining the reporting entity

Qualitative judgment

Difficulties with verifiability (different preparers reach different conclusions for a given fact pattern)

Outcomes may not be comparable

Quantitative analysis based on majority voting interest

Control may exist without majority ownership of voting interests, even if voting interests can convey control

Some entities are designed so that voting interests cannot convey control

Identify instruments and contractual arrangements that convey control

Create measures of those instruments that can be analyzed arithmetically

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