As you mentioned the FASB is careful each time it implements a new standard. According to the FASB one of the most important factor when considering FAS 160 was the nature and classification of noncontrolling interests (NCI). For example, parent and minority interests are not distinguished in a subsidiary’s financial statements. Both are owners of the subsidiary and have an interest in the total amount of the subsidiary’s income and net assets. The main issue is the reporting of each interest in the consolidated financial statements. In deciding a suitable conclusion for the accounting of noncontrolling interest, FASB acknowledged “… that a noncontrolling interest represents the residual interest in the net asset of a subsidiary within
