ARLINGTON, Va., Sept. 23, 2016 /PRNewswire-USNewswire/ -- Bloomberg BNA today announced the release of two new Portfolios on variable interest entities (VIEs) and financial instruments. These new publications provide practitioners insights into how to respond to new, wide-ranging and complex requirements from accounting standard setters and part of the comprehensive Bloomberg BNA Financial Accounting Resource Center.
The Portfolio VIE Consolidation Model: Identifying Primary Beneficiary; Reporting and Disclosure Rules was authored by Joseph P. Sebik of Siemens Corporation and Lisa Marie Starczewski of Buchanan Ingersoll & Rooney PC. It focuses on the variable interest entity (VIE) consolidation model, including how to identify the primary beneficiary that is required to consolidate the VIE. Whether an entity that does not hold a majority financial interest in another company must nonetheless consolidate that company is one of the most conceptually difficult areas in U.S. GAAP. The authors explain the relevant accounting principles, indicate how accounting firms are interpreting many of those principles, and provide insightful commentary, illustrations, and analysis.
Also available is Financial Instruments: IFRS 9—Classification and Measurement, a Portfolio written by James F. Green, CPA, a former adviser to the Financial Accounting Foundation. The Portfolio explains the International Financial Reporting Standards (IFRSs) guidance on recognizing and measuring financial assets and financial liabilities and offers insight and analysis into the practical consequences and IFRS examples of that guidance. Any organization that has financial instrument investments, especially banks and insurance companies, must understand must understand the different rules and nuances of financial instruments reporting under GAAP and IFRS regulations.
"These new Portfolios are instrumental in understanding new, complex financial reporting guidelines that affect a myriad of companies across multiple industries," said George Farrah, Editorial Director, Bloomberg BNA Tax & Accounting. "We have utilized expert practitioners to provide the practical analysis, scenarios and examples corporate financial reporting professionals can rely on for all aspects of their disclosures to financial regulators."
Bloomberg BNA's Accounting Portfolios are well known for offering analysis and real-world insights from practitioner experts on financial reporting topics. They are available as part of Bloomberg BNA's Financial Accounting Resource Center, which enables practitioners to stay current on new accounting and auditing developments with exclusive news, expert commentary and analysis, and full-text of accounting standards. For a free trial, visit the Financial Accounting Resource Center.
About Bloomberg BNA
Bloomberg BNA provides legal, tax and compliance professionals with critical information, practical guidance and workflow solutions. We leverage leading technology and a global network of experts to deliver a unique combination of news and authoritative analysis, comprehensive research solutions, innovative practice tools, and proprietary business data and analytics. Bloomberg BNA is wholly-owned by Bloomberg L.P., the global business, financial information and news leader. For more information, visit www.bna.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/2-new-financial-accounting-portfolios-now-available-from-bloomberg-bna-300333366.html
SOURCE Bloomberg BNA