FIN 46R is not just an "Enron-Big Company" issue; it is also a major area of concern for private and small companies. FIN 46R can affect various types of arrangements common to many private companies, such as leases with thinly capitalized entities, including related parties, family partnership, or LLC; arrangements where your company guarantees a liability or asset value of another company, whether related or not; and service or supply contracts, where the terms are designed to be different than market terms. This course reviews the complex consolidation rules for off-balance sheet entities now known as variable interest entities (VIEs).