{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/810/958/#60-relationships","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":"810","topic_title":"Consolidation","subtopic":"810-958","subtopic_title":"Not-for-Profit Entities","section":{"number":"60","label":"60 Relationships","anchor":"60-relationships","is_sec":false,"groups":[{"block":null,"heading":"Investments—Equity Method and Joint Ventures","paragraphs":[{"citation":"810-958-60-1","para":"60-1","html":"For application of the equity method of accounting for an investment in a for-profit entity and the procedures for applying the equity method, see Subtopic 323-10. For the disclosures that are generally applicable to the equity method of accounting for investments, see Section 323-10-50. For a description of a controlling financial interest through direct or indirect ownership of a majority voting interest, see paragraph 810-10-15-8. For the required disclosure of consolidation policy, see paragraph 810-10-50-1. For circumstances in which combined financial statements of commonly controlled entities would be useful, see paragraph 810-10-55-1B. For procedures for preparing combined financial statements, see paragraph 810-10-45-10. For parent-entity financial statements, see paragraph 810-10-45-11. For a definition of a related party and the required disclosures of material related party transactions, see Topic 850.