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Pending content is not necessarily effective.","topic":"323","topic_title":"Investments—Equity Method and Joint Ventures","subtopic":"323-932","subtopic_title":"Extractive Activities—Oil and Gas","section":{"number":"25","label":"25 Recognition","anchor":"25-recognition","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"323-932-25-1","para":"25-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_E9205685-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Joint interest (also referred to as joint venture) operations result from an agreement among two or more working interest owners whereby one party is designated as the operator for the development and operation of the jointly owned property included in the joint venture. In joint interest operations, each working interest owner retains an undivided interest in the jointly operated property. This direct ownership is usually included in the financial statements of the investor through direct inclusion of its proportional share of the expenses, revenues, and assets. Joint interest operations are designed to accomplish the objectives of sharing risk, obtaining capital, maximizing efficiency of development and operations, and enhancing the recovery of reserves. </span></span></div></div>","snippet":"Joint interest (also referred to as joint venture) operations result from an agreement among two or more working interest owners whereby one party is designated as the operator for the development and operation of the jo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:32f3746a3a73e7f32b2472ffbcece08ee502ba8eeb3e8f816d35d6f69dfc4aa4","downloaded_from":"2026-09-09T23:42:01.705Z","last_downloaded_at":"2026-09-09T23:42:01.705Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477472","source_sha256":"9958a643a06528c04ccbda07523d9a65f127be8619f86f82a1871407a4bfbd68"}},{"citation":"323-932-25-2","para":"25-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">See Subtopic <a altsource=\"GUID-B92FB78B-F3E7-45A0-B9AD-DC8FEECCB5A3.ditamap\" class=\"ditamap\">932-810</a> for proportional consolidation.</div></div>","snippet":"See Subtopic 932-810 for proportional consolidation.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ff5257d5821f001edbc9295a5c0c9f7876ef45101b109b9fda9e13e611b01645","downloaded_from":"2026-09-09T23:42:01.705Z","last_downloaded_at":"2026-09-09T23:42:01.705Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477472","source_sha256":"9958a643a06528c04ccbda07523d9a65f127be8619f86f82a1871407a4bfbd68"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a2980b94b14e802fbeda718d736dcbf1936b9006d1129c128cfaf209e4f94060","downloaded_from":"2026-09-09T23:42:01.705Z","last_downloaded_at":"2026-09-09T23:42:01.705Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477472","source_sha256":"9958a643a06528c04ccbda07523d9a65f127be8619f86f82a1871407a4bfbd68"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:61c2207bdad02e3d2070a26600acf792c37c2a18848e5967e666dacb170a3d10","downloaded_from":"2026-09-09T23:42:01.705Z","last_downloaded_at":"2026-09-09T23:42:01.705Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477472","source_sha256":"9958a643a06528c04ccbda07523d9a65f127be8619f86f82a1871407a4bfbd68"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:61c2207bdad02e3d2070a26600acf792c37c2a18848e5967e666dacb170a3d10","downloaded_from":"2026-09-09T23:42:01.705Z","last_downloaded_at":"2026-09-09T23:42:01.705Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477472","source_sha256":"9958a643a06528c04ccbda07523d9a65f127be8619f86f82a1871407a4bfbd68"}}