Intellectual company financial reporting
On July 13, 2012, the Company was informed that the U.S. Securities & Exchange Commission (the “SEC”) had issued a formal order of investigation captioned “In the Matter of New Oriental Education & Technology Group Inc.” The Company believes that the investigation concerns whether there is a sufficient basis for the consolidation of Beijing New Oriental Education & Technology (Group) Co., Ltd., a variable interest entity of the Company, and its wholly-owned subsidiaries, into the Company’s consolidated financial statements.
Oh my. Grab a cup of coffee and strap in. This will take a few minutes to unpack.
It’s been a while since we talked VIEs. If you recall, the VIE structure refers to a corporate structure used by many Chinese companies that list overseas. The pieces of the puzzle include the Chinese domestic operating company (the VIE), an offshore entity that has wholly foreign owned subsidiaries (WFOEs) in China, and legal agreements between the VIE and the WFOE(s).
Source: China Hearsay
Perspectives on Intellectual Capital: Multidisciplinary Insights Into Management, Measurement, and Reporting
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Book (Institute of Chartered Accountants of Scotland)
- Intellectual capital financial reporting
- Intellectual assets financial reporting
- Structural capital financial reporting