VIE meaning in Business ?

Answer: What is Variable Interest Entity mean?

Variable interest entity (VIE) is a term used by the Financial Accounting Standards Board (FASB) in Accounting Standards Codification (ASC) 810, Consolidation, to refer to a legal entity with certain characteristics such that a public company with a financial interest in the entity is subject to certain financial reporting requirements.

VIEs rose to prominence after the Enron scandal. Some Chinese companies, such as Alibaba, use VIEs to get access to foreign capital that would otherwise not be available due to Chinese government regulations. The use of VIEs by Chinese businesses has received criticism for its lack of transparency.

reference

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