The accounting for NCI has long been a contentious topic among practitioners. Prior to 2009, the official guidance that entities used to account for NCI was SFAS No. 141, Business Combinations. However, this guidance was very vague. To improve on this guidance, the FASB issued SFAS No. 141(R), Business Combinations and SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statements...
