ASC 810 describes the operation and reporting of a variableinterest entity (VIE) in regards to consolidation, liability, andrecognition. Research the accounting treatment and standards of aVIE in relation to U.S. standards and IFRS standards. Does a U.S.parent entity need to report and consolidate a VIE when the parenthas very little control? How do the expected losses impact thereporting process? Requirements: Answer each question for thisCritical Thinking Assignment option. It is recommended that youcopy and paste each question into your paper (in Microsoft Word)for submission in bold letters, then show work and answer undereach question so you can ensure you answer every question. Rememberto maintain a formal tone and cite at least two scholarly sourcesto support your analysis. (Note: You may not use the coursetextbook to fulfill this requirement.)
