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This chapter addresses presentation and disclosure matters applicable to consolidated entities and to variable interests in variable interest entities (VIEs) that are not consolidated by their holders.
This chapter includes discussion of:
  • Presentation and disclosure considerations broadly applicable to consolidated financial statements
  • Disclosure objectives and specific disclosure requirements for reporting entities that hold interests in VIEs
  • Presentation and disclosure for voting interest entities or VOEs (the term VOE is not defined in authoritative accounting guidance, but it is commonly used to refer to an entity that is not a VIE)
  • Other related presentation and disclosure matters, including presentation of nonhomogeneous subsidiaries, combined financial statements, and deconsolidation of a subsidiary
The matters addressed in this chapter assume the reporting entity will consolidate an entity on the date it obtains a controlling financial interest in the entity in accordance with ASC 810, Consolidation, or ASC 805, Business Combinations. Accounting for transactions resulting in the initial consolidation or deconsolidation of a subsidiary is discussed in PwC’s CG and BCG, and proportionate consolidation is discussed CG 8.4.
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