{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/740/30/#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":"740","topic_title":"Income Taxes","subtopic":"740-30","subtopic_title":"Other Considerations or Special Areas","section":{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"740-30-00-1","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=\"SL6831905-128555\"> <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\"> <strong class=\"ph b\">Subsidiary</strong> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-10/\" class=\"xref\">Accounting Standards Update No. 2015-10</a> </td> <td class=\"entry\">06/12/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/t/#temporary-difference\" class=\"term\" title=\"A difference between the tax basis of an asset or liability computed pursuant to the requirements in Subtopic 740-10 for tax positions, and its reported amount in the financial statements that will result in taxable or deductible amounts in future years when the reported amount of the asset or liability is recovered or settled, respectively. Paragraph 740-10-25-20 cites examples of temporary differences. Some temporary differences cannot be identified with a particular asset or liability for financial reporting (see paragraphs 740-10-05-10 and 740-10-25-24740-10-25-25), but those temporary differences do meet both of the following conditions: Result from events that have been recognized in the financial statements Will result in taxable or deductible amounts in future years based on provisions of the tax law. Some events recognized in financial statements do not have tax consequences. Certain revenues are exempt from taxation and certain expenses are not deductible. Events that do not have tax consequences do not give rise to temporary differences.\"><span>Temporary Difference</span></a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2016-16/\" class=\"xref\">Accounting Standards Update No. 2016-16</a> </td> <td class=\"entry\">10/24/2016</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/740/30/#740-30-05-4\" class=\"xref\">740-30-05-4</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-10/\" class=\"xref\">Accounting Standards Update No. 2015-10</a> </td> <td class=\"entry\">06/12/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-25-2\" class=\"xref\">740-30-25-2</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-10/\" class=\"xref\">Accounting Standards Update No. 2015-10</a> </td> <td class=\"entry\">06/12/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-25-7\" class=\"xref\">740-30-25-7</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/740/30/#740-30-25-10\" class=\"xref\">740-30-25-10</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/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=\"/asc/740/30/#740-30-25-15\" class=\"xref\">740-30-25-15</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2019-12/\" class=\"xref\">Accounting Standards Update No. 2019-12</a> </td> <td class=\"entry\">12/18/2019</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-25-15\" class=\"xref\">740-30-25-15</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-25-16\" class=\"xref\">740-30-25-16</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2019-12/\" class=\"xref\">Accounting Standards Update No. 2019-12</a> </td> <td class=\"entry\">12/18/2019</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-25-19\" class=\"xref\">740-30-25-19</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-45-2\" class=\"xref\">740-30-45-2</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-10/\" class=\"xref\">Accounting Standards Update No. 2015-10</a> </td> <td class=\"entry\">06/12/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-45-2\" class=\"xref\">740-30-45-2</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-45-3\" class=\"xref\">740-30-45-3</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2019-12/\" class=\"xref\">Accounting Standards Update No. 2019-12</a> </td> <td class=\"entry\">12/18/2019</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-45-3\" class=\"xref\">740-30-45-3</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-01/\" class=\"xref\">Accounting Standards Update No. 2015-01</a> </td> <td class=\"entry\">01/09/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-50-2\" class=\"xref\">740-30-50-2</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2023-09/\" class=\"xref\">Accounting Standards Update No. 2023-09</a> </td> <td class=\"entry\">12/14/2023</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/740/30/#740-30-60-1\" class=\"xref\">740-30-60-1</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2018-06/\" class=\"xref\">Accounting Standards Update No. 2018-06</a> </td> <td class=\"entry\">05/07/2018</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 | 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