Read the following articles from CFO magazine:

FASB Rule Spawns a Second Bottom Line, www.CFO.com, Maria Leone, December 7, 2007athttp://ww2.cfo.com/accounting-tax/2007/12/fasb-rule-spawns-a-second-bottom-line/

For Some, Minority Interests Will Be a Major Boost, www.CFO.com, Maria Leone, April 18, 2008athttp://ww2.cfo.com/accounting-tax/2008/04/for-some-minority-interests-will-be-a-major-boost/

Comment on how FASB 160 changed the accounting for noncontrolling (minority) interests with specific examples. Do you agree with the statement that "for FASB's part, FAS 160 is just one more step in its hunt for greater transparency and more simplicity in financial reporting"? Explain.