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Comment: Support of FASB’s proposed ASU, Consolidation (Topic 812) – Reorganization

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Grant Thornton has responded to the request for input from the FASB regarding its proposed ASU, Consolidation (Topic 812) – Reorganization, aimed at improving the understandability, navigability and clarity of the consolidation guidance. Overall, Grant Thornton agrees with the proposal to create Topic 812 with separate subtopics for variable interest entities, eliminating the guidance in Subtopic 810-30 on research and development arrangements, and moving the guidance on “Consolidation of Entities Controlled by Contract” to Topic 958.