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FIN 46
FIN 46, Consolidation of Variable Interest Entities, was an interpretation of United States Generally Accepted Accounting Principles published by the US Financial Accounting Standards Board (FASB) that made it more difficult to remove assets and liabilities from a company's balance sheet if the company retained an economic exposure to the assets and liabilities. One of the main reasons FIN 46 was issued as an interpretation instead of an accounting standard was to issue the standard in a relatively short period of time in response to the Enron scandal.〔
==Origins==
FIN 46 was an interpretation of ARB 51, an accounting principle issued in August 1959 defining the situations where Consolidated Financial Statements must be prepared. Whenever a company has a controlling financial interest in another entity it must consolidate the assets and liabilities of the other entity - that is, it must add the assets and liabilities of the other entity to its own, canceling any intercompany interests. The traditional ARB 51 approach assumed that equity - usually common stock - would receive the residual economic interest generated by a business, which is why ARB 51 focuses on equity-based majority voting interests. The traditional criterion for a controlling financial interest under ARB 51 is a majority voting interest. In the 1980s and 1990s it became common for companies to control assets in certain businesses without maintaining a majority voting interest in those businesses. This was more often done with securitizations rather than traditional limited liability corporations, because the securitization's common stock or other voting interests could be paid defined, limited amounts and all other cash flows could be directed to other securityholders. Until FIN 46 was implemented, this enabled companies to avoid consolidation, which permitted them to keep the liabilities and losses of their controlled special purpose entities off of their financial statements. In such cases, consolidation based on equity did not serve the purpose of effective reporting because it does not reflect the true nature of relationships among entities.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
■ウィキペディアで「FIN 46」の詳細全文を読む
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