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Section 3056 applies:
- To investments in arrangements in which the investor has joint control.
- When economic activities meet the definitions and criteria outlined in paragraphs 3056.03-.15, even though the activities may not be referred to as joint arrangements.
Section 3056 does not apply:
- When economic activities do not meet the definitions and criteria outlined in paragraphs 3056.03-.15, even though the activities may sometimes be referred to as joint arrangements. Instead accounting for investments in such activities is governed by the nature of the investment (see Section 1591, Subsidiaries, Section 3051, Investments, and Section 3856, Financial Instruments).