This chapter discusses the accounting by a joint venture for nonmonetary contributions upon formation before the adoption of ASU 2023-05. Therefore, the Codification references included in this chapter do not show the pending content (transition guidance in ASC 805-60-65-01) related to the ASU. For information on the accounting by a joint venture after the adoption of ASU 2023-05, see Chapter 9.
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This publication provides comprehensive guidance; however, it does not address all possible fact patterns, and the guidance is subject to change. Consult a Deloitte & Touche LLP professional regarding your specific issues and questions.