50-2AA The principal objectives of this Subsection’s required disclosures are to provide financial statement users with an understanding of all of the following:
- The significant judgments and assumptions made by a reporting entity in determining whether it must do any of the following:
- Consolidate a variable interest entity (VIE)
- Disclose information about its involvement in a VIE.
- The nature of restrictions on a consolidated VIE’s assets and on the settlement of its liabilities reported by a reporting entity in its statement of financial position, including the carrying amounts of such assets and liabilities.
- The nature of, and changes in, the risks associated with a reporting entity’s involvement with the VIE.
- How a reporting entity’s involvement with the VIE affects the reporting entity’s financial position, financial performance, and cash flows.
50-2AB A reporting entity shall consider the overall objectives in the preceding paragraph in providing the disclosures required by this Subsection. To achieve those objectives, a reporting entity may need to supplement the disclosures otherwise required by this Subsection, depending on the facts and circumstances surrounding the VIE and a reporting entity’s interest in that VIE.
50-2AC The disclosures required by this Subsection may be provided in more than one note to the financial statements, as long as the objectives in paragraph 810-10-50-2AA are met. If the disclosures are provided in more than one note to the financial statements, the reporting entity shall provide a cross reference to the other notes to the financial statements that provide the disclosures prescribed in this Subsection for similar entities.