{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/323/30/#25-recognition","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"323","topic_title":"Investments—Equity Method and Joint Ventures","subtopic":"323-30","subtopic_title":"Partnerships, Joint Ventures, and Limited Liability Entities","section":{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"323-30-25-1","para":"25-1","html":"Investors in unincorporated entities such as partnerships and other unincorporated joint ventures generally shall account for their investments using the equity method of accounting by analogy to Subtopic 323-10 if the investor has the ability to exercise significant influence over the investee. The elimination of intra-entity profits and the accounting for income taxes as provided for in paragraph 323-10-35-7 shall also apply to unincorporated joint ventures.