A joint venture should subsequently measure and account for assets and liabilities recognized upon formation in accordance with other applicable GAAP. ASC 805-10-35 and ASC 805-20-35 provide guidance on subsequently measuring and accounting for certain assets acquired, liabilities assumed, and equity instruments issued in a business combination. ASC 805-60 references the same business combination guidance for subsequent measurement.
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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.