The FASB ASC Subtopic Variable Interest Entitles affects thousands of business enterprises that now, as primary beneficiaries, consolidate entities that qualify as controlled VIEs. Retrieve the annual reports of one or more of the following companies (or any others you may find) that consolidate VIEs:

The Walt Disney Company

General Electric

ConAgra Foods

Time Warner

Allegheny Energy

Required

Write a brief report that describes

The reasons for consolidation of the companys VIE(s).

The effect of the consolidation of the VIE(s) on the companys financial statements.

You will discuss the reasons for consolidating VIEs and the effects of consolidating VIEs on the consolidated financial statements.