This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Deloitte submits FASB agenda request on joint venture formation

Published on: Jun 03, 2019

Deloitte & Touche LLP has sent the FASB an agenda request on joint venture formation: Initial recognition and measurement for nonmonetary assets contributed by venturers within the financial statements of a joint venture.

An excerpt from the agenda request is shown below:

Deloitte & Touche LLP appreciates the opportunity to provide an agenda request to the FASB. We request that the FASB consider an agenda topic that would provide additional guidance in Accounting Standards Codification (ASC) Topic 323, Investments — Equity Method and Joint Ventures, regarding joint venture formations, specifically, the initial recognition and measurement within the financial statements of a joint venture for nonmonetary assets, including nonmonetary assets that meet the definition of a business in accordance with ASC 805, Business Combinations, contributed by venturers.


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.