{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/323/970/#00-status","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":"323-970","subtopic_title":"Real Estate—General","section":{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"323-970-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div><div class=\"norm-text\"><table class=\"asc-table\" id=\"SL6533747-161864\"><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=\"/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\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2010-08/\" class=\"xref\">Accounting Standards Update No. 2010-08</a></td><td class=\"entry\">02/02/2010</td></tr><tr><td class=\"entry\"><a href=\"/glossary/k/#kick-out-rights-voting-interest-entity-definition\" class=\"term\" title=\"The rights underlying the limited partner's or partners' ability to dissolve (liquidate) the limited partnership or otherwise remove the general partners without cause.\"><span>Kick-Out Rights (Voting Interest Entity definition)</span></a></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2015-02/\" class=\"xref\">Accounting Standards Update No. 2015-02</a></td><td class=\"entry\">02/18/2015</td></tr><tr><td class=\"entry\"><a href=\"/glossary/n/#noncontrolling-interest\" class=\"term\" title=\"The portion of equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent. A noncontrolling interest is sometimes called a minority interest.\"><span>Noncontrolling Interest</span></a></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2017-05/\" class=\"xref\">Accounting Standards Update No. 2017-05</a></td><td class=\"entry\">02/22/2017</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=\"/asc/323/970/#323-970-05-4\" class=\"xref\">970-323-05-4</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/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=\"/asc/323/970/#323-970-15-2\" class=\"xref\">970-323-15-2</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2012-04/\" class=\"xref\">Accounting Standards Update No. 2012-04</a></td><td class=\"entry\">10/01/2012</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-25-5\" class=\"xref\">970-323-25-5</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2015-02/\" class=\"xref\">Accounting Standards Update No. 2015-02</a></td><td class=\"entry\">02/18/2015</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-25-6\" class=\"xref\">970-323-25-6</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2016-01/\" class=\"xref\">Accounting Standards Update No. 2016-01</a></td><td class=\"entry\">01/05/2016</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-25-7\" class=\"xref\">970-323-25-7</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2016-01/\" class=\"xref\">Accounting Standards Update No. 2016-01</a></td><td class=\"entry\">01/05/2016</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-25-8\" class=\"xref\">970-323-25-8</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2016-01/\" class=\"xref\">Accounting Standards Update No. 2016-01</a></td><td class=\"entry\">01/05/2016</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-25-8\" class=\"xref\">970-323-25-8</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2015-02/\" class=\"xref\">Accounting Standards Update No. 2015-02</a></td><td class=\"entry\">02/18/2015</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-25-8\" class=\"xref\">970-323-25-8</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2009-02/\" class=\"xref\">Accounting Standards Update No. 2009-02</a></td><td class=\"entry\">07/01/2009</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-25-11\" class=\"xref\">970-323-25-11</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2016-01/\" class=\"xref\">Accounting Standards Update No. 2016-01</a></td><td class=\"entry\">01/05/2016</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-25-11\" class=\"xref\">970-323-25-11</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2010-08/\" class=\"xref\">Accounting Standards Update No. 2010-08</a></td><td class=\"entry\">02/02/2010</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-30-3\" class=\"xref\">970-323-30-3</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2017-05/\" class=\"xref\">Accounting Standards Update No. 2017-05</a></td><td class=\"entry\">02/22/2017</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-30-3\" class=\"xref\">970-323-30-3</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-30-4\" class=\"xref\">970-323-30-4</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2017-05/\" class=\"xref\">Accounting Standards Update No. 2017-05</a></td><td class=\"entry\">02/22/2017</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-30-4\" class=\"xref\">970-323-30-4</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-30-5\" class=\"xref\">970-323-30-5</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2017-05/\" class=\"xref\">Accounting Standards Update No. 2017-05</a></td><td class=\"entry\">02/22/2017</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-30-6\" class=\"xref\">970-323-30-6</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2017-05/\" class=\"xref\">Accounting Standards Update No. 2017-05</a></td><td class=\"entry\">02/22/2017</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-30-6\" class=\"xref\">970-323-30-6</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-35-14\" class=\"xref\">970-323-35-14</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2017-05/\" class=\"xref\">Accounting Standards Update No. 2017-05</a></td><td class=\"entry\">02/22/2017</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-35-15\" class=\"xref\">970-323-35-15</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2017-05/\" class=\"xref\">Accounting Standards Update No. 2017-05</a></td><td class=\"entry\">02/22/2017</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-40-1\" class=\"xref\">970-323-40-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/asc-pdf/GUID-82C10081-F060-4062-ACF7-B89420B0D27C.pdf\" class=\"pdf-link\" target=\"_blank\" rel=\"noopener\">Maintenance Update 2021-02 (PDF)</a></td><td class=\"entry\">01/19/2021</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-40-1\" class=\"xref\">970-323-40-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2017-05/\" class=\"xref\">Accounting Standards Update No. 2017-05</a></td><td class=\"entry\">02/22/2017</td></tr><tr><td class=\"entry\"><a href=\"/asc/323/970/#323-970-40-1\" class=\"xref\">970-323-40-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a></td><td class=\"entry\">05/28/2014</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nCorporate Joint Venture | Amended | Accounting Standards Update No. 2010-08 | 02/02/2010…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c15a103d20ebea462f6f61f170df1bc1dae11d8cca3bf8882031c52c5d4500e7","downloaded_from":"2026-09-09T23:42:35.809Z","last_downloaded_at":"2026-09-09T23:42:35.809Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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