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Technical Line - A closer look at the FASB’s guidance on accounting for joint venture formations


Our Technical Line discusses how to apply the FASB's new guidance on accounting for joint venture formations. The guidance requires certain joint ventures to apply a new basis of accounting upon formation by recognizing and initially measuring most of their assets and liabilities at fair value. The guidance is effective for all joint venture formations with a formation date on or after 1 January 2025. Early adoption is permitted.

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