October 2013
Intermediate to advanced
1460 pages
56h 14m
English
book
Wiley GAAP 2014: Interpretation and Application of Generally Accepted Accounting Principles
by Joanne M. Flood
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46 ASC 808 COLLABORATIVE ARRANGEMENTS
Accounting for transactions with unrelated third parties
Accounting for transactions between participants
Matters for which guidance is not provided
Example of collaborative arrangements
PERSPECTIVE AND ISSUES
Subtopic
ASC 808-10, Collaborative Arrangements, contains one subtopic:
- ASC 809-10, Overall, which defines collaborative arrangements and gives reporting requirements.
Scope
ASC 808-10 applies to all collaborative arrangements, except for those addressed in other topics. See more on scope later in this chapter.
Overview
A collaborative arrangement (sometimes referred to in practice as “line-item” joint ventures or “virtual” joint ventures) is a contractual agreement between two or more parties (participants) to jointly conduct business activities for their mutual benefit without the formation of a separate entity in which to conduct the activities. These types of arrangements are commonly used for such purposes as producing motion pictures; designing and developing hardware and/or software; or developing new pharmaceutical drugs. Determining the proper accounting treatment for the various activities included in these endeavors is the subject of Accounting Standards Codification (ASC) 808, Collaborative Arrangements.
DEFINITIONS OF TERMS
Source: ASC 808-10-20
Collaborative ...
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