specific ownership account

Assets1

1. 323-30Partnerships, Joint Ventures, and Limited Liability Entities323 Investments—Equity Method and Joint Ventures

   ASC 323-30 extends equity method concepts to investments in unincorporated entities—partnerships, unincorporated joint ventures (undivided interests in ventures), and limited liability companies—that are outside the literal scope of Subtopic 323-10 (which addresses common stock of corporations). Investors generally apply the equity method by analogy when they can exercise significant influence over the investee (323-30-25-1), including the intra-entity profit elimination rules of 323-10-35-7. An LLC that maintains a specific ownership account for each investor is treated like a limited partnership interest in deciding between Topic 321 and the equity method (323-30-35-3).