The FASB ASC paragraph 810-10-45-16 states: “The noncontrolling interest shall be reported in the consolidated statement of financial position within equity, separately from the parent’s equity. That amount shall be clearly identified and labeled, for example, as noncontrolling interest in subsidiaries.”
However, prior to issuing this current reporting requirement, the FASB considered several alternative display formats for the noncontrolling interest. Access the precodification standard, SFAS 160, “Noncontrolling Interest in Consolidated Financial Statements,” at www.fasb.org to answer the following:
• What alternative financial statement display formats did the FASB consider for the noncontrolling interest?
• What criteria did the FASB use to evaluate the desirability of each alternative?
• In what specific ways did FASB Concept Statement 6 affect the FASB’s evaluation of these alternatives?
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