# ASC 205-10-00: Presentation of Financial Statements — Overall — 00 Status

Source: FASB Accounting Standards Codification, Basic View

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## ASC 205-10-00: 00 Status

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##### [205-10-00-1](https://asc.understandingaccounting.org/asc/205/10/#205-10-00-1)

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The following table identifies the changes made to this Subtopic.

<table class="asc-table" id="SL7706761-172591"><tbody><tr><td class="entry"><strong class="ph b">Paragraph</strong></td><td class="entry"><strong class="ph b">Action</strong></td><td class="entry"><strong class="ph b">Accounting Standards Update</strong></td><td class="entry"><strong class="ph b">Date</strong></td></tr><tr><td class="entry"></td><td class="entry"></td><td class="entry"></td><td class="entry"></td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/glossary/b/#business" class="term" title="Paragraphs 805-10-55-3A805-10-55-4805-10-55-5805-10-55-6 and 805-10-55-8805-10-55-9 define what is considered a business."><span>Business</span></a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2017-01/" class="xref">Accounting Standards Update No. 2017-01</a></td><td class="entry">01/05/2017</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/glossary/b/#business" class="term" title="Paragraphs 805-10-55-3A805-10-55-4805-10-55-5805-10-55-6 and 805-10-55-8805-10-55-9 define what is considered a business."><span>Business</span></a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2014-08/" class="xref">Accounting Standards Update No. 2014-08</a></td><td class="entry">04/10/2014</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/glossary/c/#comprehensive-income" class="term" title="The change in equity (net assets) of a business entity during a period from transactions and other events and circumstances from nonowner sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners. Comprehensive income comprises both of the following:All components of net incomeAll components of other comprehensive income."><span>Comprehensive Income</span></a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2011-05/" class="xref">Accounting Standards Update No. 2011-05</a></td><td class="entry">06/16/2011</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/glossary/c/#corporate-joint-venture" class="term" title="A corporation owned and operated by a small group of entities (the joint venturers) as a separate and specific business or project for the mutual benefit of the members of the group. A government may also be a member of the group. The purpose of a corporate joint venture frequently is to share risks and rewards in developing a new market, product or technology; to combine complementary technological knowledge; or to pool resources in developing production or other facilities. A corporate joint venture also usually provides an arrangement under which each joint venturer may participate, directly or indirectly, in the overall management of the joint venture. Joint venturers thus have an interest or relationship other than as passive investors. An entity that is a subsidiary of one of the joint venturers is not a corporate joint venture. The ownership of a corporate joint venture seldom changes, and its stock is usually not traded publicly. A noncontrolling interest held by public ownership, however, does not preclude a corporation from being a corporate joint venture."><span>Corporate Joint Venture</span></a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2023-05/" class="xref">Accounting Standards Update No. 2023-05</a></td><td class="entry">08/23/2023</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/glossary/j/#joint-venture" class="term" title="An entity owned and operated by a small group of businesses (the joint venturers) as a separate and specific business or project for the mutual benefit of the members of the group. A government may also be a member of the group. The purpose of a joint venture frequently is to share risks and rewards in developing a new market, product, or technology; to combine complementary technological knowledge; or to pool resources in developing production or other facilities. A joint venture also usually provides an arrangement under which each joint venturer may participate, directly or indirectly, in the overall management of the joint venture. Joint venturers thus have an interest or relationship other than as passive investors. An entity that is a subsidiary of one of the joint venturers is not a joint venture. The ownership of a joint venture seldom changes, and its equity interests usually are not traded publicly. A minority public ownership, however, does not preclude an entity from being a joint venture. As distinguished from a corporate joint venture, a joint venture is not limited to corporate entities."><span>Joint Venture</span></a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2023-05/" class="xref">Accounting Standards Update No. 2023-05</a></td><td class="entry">08/23/2023</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/glossary/n/#nonprofit-activity" class="term" title="An integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing benefits, other than goods or services at a profit or profit equivalent, as a fulfillment of an entity's purpose or mission (for example, goods or services to beneficiaries, customers, or members). As with a not-for-profit entity, a nonprofit activity possesses characteristics that distinguish it from a business or a for-profit business entity."><span>Nonprofit Activity</span></a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2014-08/" class="xref">Accounting Standards Update No. 2014-08</a></td><td class="entry">04/10/2014</td></tr><tr><td class="entry"></td><td class="entry"></td><td class="entry"></td><td class="entry"></td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-05-1" class="xref">205-10-05-1</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/asc-pdf/GUID-89572DCE-6C59-4CB9-AA28-04A1C327DADA.pdf" class="pdf-link" target="_blank" rel="noopener">Maintenance Update 2025-05 (PDF)</a></td><td class="entry">06/20/2025</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-05-1" class="xref">205-10-05-1</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2013-07/" class="xref">Accounting Standards Update No. 2013-07</a></td><td class="entry">04/22/2013</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-05-3" class="xref">205-10-05-3</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2023-05/" class="xref">Accounting Standards Update No. 2023-05</a></td><td class="entry">08/23/2023</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-05-3" class="xref">205-10-05-3</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2014-08/" class="xref">Accounting Standards Update No. 2014-08</a></td><td class="entry">04/10/2014</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-05-3A" class="xref">205-10-05-3A</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2014-08/" class="xref">Accounting Standards Update No. 2014-08</a></td><td class="entry">04/10/2014</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-05-4" class="xref">205-10-05-4</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2013-07/" class="xref">Accounting Standards Update No. 2013-07</a></td><td class="entry">04/22/2013</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-45-1A" class="xref">205-10-45-1A</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2025-11/" class="xref">Accounting Standards Update No. 2025-11</a></td><td class="entry">12/08/2025</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-45-1A" class="xref">205-10-45-1A</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2011-05/" class="xref">Accounting Standards Update No. 2011-05</a></td><td class="entry">06/16/2011</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-45-2" class="xref">205-10-45-2</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2025-12/" class="xref">Accounting Standards Update No. 2025-12</a></td><td class="entry">12/17/2025</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-45-4" class="xref">205-10-45-4</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2020-10/" class="xref">Accounting Standards Update No. 2020-10</a></td><td class="entry">10/29/2020</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-50-1" class="xref">205-10-50-1</a></td><td class="entry">Amended</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2025-11/" class="xref">Accounting Standards Update No. 2025-11</a></td><td class="entry">12/08/2025</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/205/10/#205-10-50-2" class="xref">205-10-50-2</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2020-10/" class="xref">Accounting Standards Update No. 2020-10</a></td><td class="entry">10/29/2020</td></tr></tbody></table>