Exchange of Nonmonetary Assets (lacks commercial substance)

[@larco9028]

Is there a video with cash paid or received?

[@Amy1664880129]

Can you please do an example for Exchange of Nonmonetary Assets(lacks commercial substance) with a loss?

[@charmainetabar6927]

he has an example for that

[@MyFinancialFocus]

Keeping track of noncash transactions can be challenging

[@Zetroid]

What happens if it wasn't more than new fair value and cash was paid? How do I check it?

[@Sipmeister007]

I may be wrong, but maybe it is just a difference in the treatment from the FASB and the IFRS because under IFRS i believe they book the loss without commercial substance... if you can clarify that i'd be very thankful.

[@chunkypandey]

+syprian isaacs FASB does too according to Becker. I think he may have said it by accident. "Under the rule of conservatism, losses are recognized in all nonmonetary exchanges when the book value exceeds the fair value of the asset given up."

[@A96000]

Why is Tito giving up his dump truck for 4000 when he knows it value is 9000? Isnt that a loss for Tito and a gain for Thompson?

[@user-bb3ci3gn7s]

That confused me too

[@jackjacobs5607]

@@user-bb3ci3gn7s Tito & Thompson don't know the carrying value of the other organization.

[@tobyxp]

@@jackjacobs5607 Guess that's the reason too

[@walterferreira6243]

They don't know the fair value of their assets