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week 2 – discussion forum 2


Non-Controlling Interest [WLOs: 1, 2, 3, 4, 5, 6] [CLOs: 1, 2, 3, 4, 5]

Prior to beginning work on this discussion forum, review Chapters 3 and 4 of the text and read the article Summary of Statement No. 160: Noncontrolling Interests in Consolidated Financial Statements—An Amendment of ARB No. 51 (Links to an external site.).

Write: Make sure your response addressing the following questions is more than 200 words and that you include a brief paraphrase or direct quote from the reading material where appropriate. Include proper in-text citations for each paraphrase or direct quote as shown in the UAGC Writing Center’s Citing Within Your Paper (Links to an external site.) guide.

Discussion Questions

The FASB ASC paragraph 810-10-45-16 states, “The non-controlling interest shall be reported in the consolidated statement of financial position within equity, separately from the parent’s equity. That amount shall be clearly identified and labeled, for example, as non-controlling interest in subsidiaries.”

However, prior to issuing this current reporting requirement, the FASB considered several alternative display formats for the non-controlling interest. Access the pre-codification standard, SFAS 160, titled “Non-controlling Interest in Consolidated Financial Statements,” at the FASB (Links to an external site.) website to answer the following questions:

  • What alternative financial statement display formats did the FASB consider for the non-controlling interest?
  • What criteria did the FASB use to evaluate the desirability of each alternative?

In what specific ways did FASB Concept Statement 6 affect the FASB’s evaluation of these alternatives?

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