If you have more than one lender, you can consolidate
with any one of them.
So if you're a CEO and have an SPE that you're not consolidating, you re at risk because the SEC might challenge that treatment and say you need to consolidate
A parent shall consolidate
each entity (subsidiary) that it controls unless control is temporary at the date it is acquired or otherwise obtained.
How to consolidate
- measurement of the subsidiary's assets, liabilities, and goodwill; step acquisitions; increases or decreases in the parent's proportionate interest in a subsidiary; and elimination of intercompany transactions.
The chapter also discusses the election to allocate consolidate
tax liability in a particular manner, and contains a model tax allocation agreement providing much food for thought.
The Department of Education has announced that, as of midnight, June 30, 2006, students that are enrolled in a college or university will not be allowed to consolidate
their student loans.