Off-Balance-Sheet Entities: The Good, The Bad and The Ugly

Topics:
Financial Statements
Tags:
Balance Sheet,
Balance Sheets,
Entity,
Finance,
Financial Accounting,
Financial Statements,
GAAP,
Parent
Source:
Equade Internet

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Overview: The term "off balance sheet" can refer to many things. Typically, it refers to separate legal entities (separate companies of which the parent holds less than 100% ownership) or contingent liabilities such as letters of credit or loans to separate legal entities that are guaranteed by the parent. GAAP allows these items to be excluded from the parent's financial statements but usually they must be described in footnotes. Know the good, bad and ugly facts of the off balance sheet as you go further with treading.

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Format: HTML | Date: Jan 2003 | Pages: 1

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