Deloitte
Accounting Research Tool
...
Chapter 4 — Long-Lived Assets to Be Disposed of Other Than by Sale

4.3 Nonmonetary Exchange

4.3 Nonmonetary Exchange

A nonmonetary exchange is a reciprocal transaction that involves an exchange of assets (or liabilities) or services with another entity. ASC 360-10-45-15 requires that a long-lived asset or asset group to be disposed of in an exchange, measured on the basis of the recorded amount of the nonmonetary asset relinquished, continue to be classified as held and used until it is disposed of. A nonmonetary exchange that meets any of the below criteria in ASC 845-10-30-3 must be recognized on the basis of the recorded amount of the nonmonetary asset given up.