FIN 46R is applicable to public company that have interests in VIEs or potential VIEs that are SPEs after December 31, 2003.  For all other public company purposes (except for small business issuers) FIN 46R considerations apply to financial periods ending after March 15, 2004.  Application to small business issuers begins no later than the first reporting period after December 15, 2004.  FIN 46R applies to new VIEs of non-public companies created after December 31, 2002.  However, a non-public company can defer application of FIN 46R until the beginning of the first annual period beginning after December 15, 2004.