{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/845/10/#30-initial-measurement","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"845","topic_title":"Nonmonetary Transactions","subtopic":"845-10","subtopic_title":"Overall","section":{"number":"30","label":"30 Initial Measurement","anchor":"30-initial-measurement","is_sec":false,"groups":[{"block":null,"heading":"Basic Principle","paragraphs":[{"citation":"845-10-30-1","para":"30-1","html":"
In general, the accounting for nonmonetary transactions should be based on the fair values of the assets (or services) involved, which is the same basis as that used in monetary transactions. Thus, the cost of a nonmonetary asset acquired in exchange for another nonmonetary asset is the fair value of the asset surrendered to obtain it, and a gain or loss shall be recognized on the exchange. The fair value of the asset received shall be used to measure the cost if it is more clearly evident than the fair value of the asset surrendered. Similarly, a nonmonetary asset received in a nonreciprocal transfer shall be recorded at the fair value of the asset received. A transfer of a nonmonetary asset to a stockholder or to another entity in a nonreciprocal transfer shall be recorded at the fair value of the asset transferred and a gain or loss shall be recognized on the disposition of the asset.
","snippet":"In general, the accounting for nonmonetary transactions should be based on the fair values of the assets (or services) involved, which is the same basis as that used in monetary transactions. Thus, the cost of a nonmonet…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cc9baa3dc76b315888a293df1577a02f9ee35328b484ea53b60b174f25b1df58","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"citation":"845-10-30-2","para":"30-2","html":"
The fair value of an entity's own stock reacquired may be a more clearly evident measure of the fair value of the asset distributed in a nonreciprocal transfer if the transaction involves distribution of a nonmonetary asset to eliminate a disproportionate part of owners' interests (that is, to acquire stock for the treasury or for retirement). If one of the parties in a nonmonetary transaction could have elected to receive cash instead of the nonmonetary asset, the amount of cash that could have been received may be evidence of the fair value of the nonmonetary assets exchanged.
","snippet":"The fair value of an entity's own stock reacquired may be a more clearly evident measure of the fair value of the asset distributed in a nonreciprocal transfer if the transaction involves distribution of a nonmonetary as…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e771e10430cd3a91428c6a0ff85ff24bfba48152aeb7bb5cd8707027040aac6","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:755e0b879cec217737a883242e7f4a5ef4fdbd0cd766ee576c608f865b3798b9","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"block":null,"heading":"Modifications of the Basic Principle","paragraphs":[{"citation":"845-10-30-3","para":"30-3","html":"
A nonmonetary exchange shall be measured based on the recorded amount (after reduction, if appropriate, for an indicated impairment of value as discussed in paragraph 360-10-40-4) of the nonmonetary asset(s) relinquished, and not on the fair values of the exchanged assets, if any of the following conditions apply:
  1. a
    The fair value of neither the asset(s) received nor the asset(s) relinquished is determinable within reasonable limits.
  2. b
    The transaction is an exchange of a product or property held for sale in the ordinary course of business for a product or property to be sold in the same line of business to facilitate sales to customers other than the parties to the exchange.
  3. c
    The transaction lacks commercial substance (see the following paragraph).
","snippet":"A nonmonetary exchange shall be measured based on the recorded amount (after reduction, if appropriate, for an indicated impairment of value as discussed in paragraph 360-10-40-4) of the nonmonetary asset(s) relinquished…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:83f830b10332ae5139150a261a911351a26aaf35fa6df4f9b48198dd97aa0a86","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9ef8784f8db6d3a26814ab76a7d372c8bd9d35666f1cd59a67629251bc15fa7","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"block":null,"heading":"Commercial Substance","paragraphs":[{"citation":"845-10-30-4","para":"30-4","html":"
A nonmonetary exchange has commercial substance if the entity's future cash flows are expected to significantly change as a result of the exchange. The entity's future cash flows are expected to significantly change if either of the following criteria is met:
  1. a
    The configuration (risk, timing, and amount) of the future cash flows of the asset(s) received differs significantly from the configuration of the future cash flows of the asset(s) transferred. The configuration of future cash flows is composed of the risk, timing, and amount of the cash flows. A change in any one of those elements would be a change in configuration.
  2. b
    The entity-specific value of the asset(s) received differs from the entity-specific value of the asset(s) transferred, and the difference is significant in relation to the fair values of the assets exchanged. An entity-specific value (referred to as an entity-specific measurement in FASB Concepts Statement No. 7, Using Cash Flow Information and Present Value in Accounting Measurements) is different from a fair value measurement. As described in paragraph 24(b) of Concepts Statement No. 7, an entity-specific value attempts to capture the value of an asset or liability in the context of a particular entity. For example, an entity computing an entity-specific value of an asset would use its expectations about its use of that asset rather than the use assumed by marketplace participants. If it is determined that the transaction has commercial substance, the exchange would be measured at fair value, rather than at the entity-specific value.
A qualitative assessment will, in some cases, be conclusive in determining that the estimated cash flows of the entity are expected to significantly change as a result of the exchange.
Transition date:(P) December 16, 2024; (N) December 16, 2025Transition guidance:
105-10-65-9 A nonmonetary exchange has commercial substance if the entity's future cash flows are expected to significantly change as a result of the exchange. The entity's future cash flows are expected to significantly change if either of the following criteria is met:
  1. a
    The configuration (risk, timing, and amount) of the future cash flows of the asset(s) received differs significantly from the configuration of the future cash flows of the asset(s) transferred. The configuration of future cash flows is composed of the risk, timing, and amount of the cash flows. A change in any one of those elements would be a change in configuration.
  2. b
    The entity-specific value of the asset(s) received differs from the entity-specific value of the asset(s) transferred, and the difference is significant in relation to the fair values of the assets exchanged. An entity-specific value is different from a fair value measurement. An entity-specific value attempts to capture the value of an asset or liability in the context of a particular entity. For example, an entity computing an entity-specific value of an asset would use its expectations about its use of that asset rather than the use assumed by marketplace participants. If it is determined that the transaction has commercial substance, the exchange would be measured at fair value, rather than at the entity-specific value.
A qualitative assessment will, in some cases, be conclusive in determining that the estimated cash flows of the entity are expected to significantly change as a result of the exchange.
","snippet":"A nonmonetary exchange has commercial substance if the entity's future cash flows are expected to significantly change as a result of the exchange. The entity's future cash flows are expected to significantly change if e…","pending":true,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3705ba78ca17a4e978d3d83036a869f3b03777f93334e0c29ad01298e5423ce2","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"citation":"845-10-30-5","para":"30-5","html":"
In the United States and some other tax jurisdictions, a transaction is not given effect for tax purposes unless it serves a legitimate business purpose other than tax avoidance. In assessing the commercial substance of an exchange, tax cash flows that arise solely because the tax business purpose is based on achieving a specified financial reporting result shall not be considered.
","snippet":"In the United States and some other tax jurisdictions, a transaction is not given effect for tax purposes unless it serves a legitimate business purpose other than tax avoidance. In assessing the commercial substance of …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1bd3834206978021bc1e851a3a06a89fc29a162b0b132c40a1ddcd380569f580","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"citation":"845-10-30-6","para":"30-6","html":"
The exchanges of nonmonetary assets that would otherwise be based on recorded amounts (see paragraph 845-10-30-3) may include an amount of monetary consideration. The recipient of the monetary consideration has realized gain on the exchange to the extent that the amount of the monetary receipt exceeds a proportionate share of the recorded amount of the asset surrendered. The portion of the cost applicable to the realized amount shall be based on the ratio of the monetary consideration to the total consideration received (monetary consideration plus the estimated fair value of the nonmonetary asset received) or, if more clearly evident, the fair value of the nonmonetary asset transferred. The entity paying the monetary consideration shall not recognize any gain on a transaction covered in paragraph 845-10-30-3 but shall record the asset received at the amount of the monetary consideration paid plus the recorded amount of the nonmonetary asset surrendered. If a loss is indicated by the terms of a transaction described in this paragraph or in that paragraph, the entire indicated loss on the exchange shall be recognized.
","snippet":"The exchanges of nonmonetary assets that would otherwise be based on recorded amounts (see paragraph 845-10-30-3) may include an amount of monetary consideration. The recipient of the monetary consideration has realized …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6dca41cdbc05ce1938e5d2dbdee0ced79a1b3afdb6503d6c4ab6e965915d19f8","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"citation":"845-10-30-7","para":"30-7","html":"
See paragraph 845-10-25-6 for guidance on what level of monetary consideration is deemed significant and results in the exchange to be considered monetary (rather than nonmonetary).
","snippet":"See paragraph 845-10-25-6 for guidance on what level of monetary consideration is deemed significant and results in the exchange to be considered monetary (rather than nonmonetary).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:79c5fbabecb3ad8747e1cd5f39250d104e9014bc9cacad3dc5404d4e10939a07","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fe1620144a49f686085e9a72e1bb7e0a46b2ba3c71cbe4e9479c297d805de853","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"block":null,"heading":"Applying the Basic Principle","paragraphs":[{"citation":"845-10-30-8","para":"30-8","html":"
Fair value should be regarded as not determinable within reasonable limits if major uncertainties exist about the realizability of the value that would be assigned to an asset received in a nonmonetary transaction accounted for at fair value. An exchange involving parties with essentially opposing interests is not considered a prerequisite to determining a fair value of a nonmonetary asset transferred; nor does an exchange ensure that a fair value for accounting purposes can be ascertained within reasonable limits. If neither the fair value of a nonmonetary asset transferred nor the fair value of a nonmonetary asset received in exchange is determinable within reasonable limits, the recorded amount of the nonmonetary asset transferred from the entity may be the only available measure of the transaction.
","snippet":"Fair value should be regarded as not determinable within reasonable limits if major uncertainties exist about the realizability of the value that would be assigned to an asset received in a nonmonetary transaction accoun…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f3572bc74f4f0383a89244ffc1d4d1f120a1a3474cddffa67d06cc5ec4c4aa40","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"citation":"845-10-30-9","para":"30-9","html":"
A difference between the amount of gain or loss recognized for tax purposes and that recognized for accounting purposes may constitute a temporary difference to be accounted for according to Subtopic 740-10.
","snippet":"A difference between the amount of gain or loss recognized for tax purposes and that recognized for accounting purposes may constitute a temporary difference to be accounted for according to Subtopic 740-10.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:93f3ebcec8a3f12db00e6be0e3cd915fe72dd21daa7f83880447c4c800e03725","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ba8a8e7ea7ee4ed8c343b27715e7529912cad9af64229b278fd18301ab2893ad","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"block":null,"heading":"Nonreciprocal Transfers with Owners","paragraphs":[{"citation":"845-10-30-10","para":"30-10","html":"
Accounting for the distribution of nonmonetary assets to owners of an entity in a spinoff or other form of reorganization or liquidation or in a plan that is in substance the rescission of a prior business combination shall be based on the recorded amount (after reduction, if appropriate, for an indicated impairment of value) (see paragraph 360-10-40-4) of the nonmonetary assets distributed. Subtopic 505-60 provides additional guidance on the distribution of nonmonetary assets that constitute a business to owners of an entity in transactions commonly referred to as spinoffs. A pro rata distribution to owners of an entity of shares of a subsidiary or other investee entity that has been or is being consolidated or that has been or is being accounted for under the equity method is to be considered to be equivalent to a spinoff. Other nonreciprocal transfers of nonmonetary assets to owners shall be accounted for at fair value if the fair value of the nonmonetary asset distributed is objectively measurable and would be clearly realizable to the distributing entity in an outright sale at or near the time of the distribution.
","snippet":"Accounting for the distribution of nonmonetary assets to owners of an entity in a spinoff or other form of reorganization or liquidation or in a plan that is in substance the rescission of a prior business combination sh…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6189e97972a28b346c7d1343f68aae47e166e90c798df1a9f3be15eeabb985db","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"citation":"845-10-30-11","para":"30-11","html":"
See Section 845-10-55 for implementation guidance and illustrations of when an entity transfers pension assets or obligations in a spinoff.
","snippet":"See Section 845-10-55 for implementation guidance and illustrations of when an entity transfers pension assets or obligations in a spinoff.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:941fee1925794565602578f3e5ec00f64fe77f3e5d7b4b8682e9c962b2f75905","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"citation":"845-10-30-12","para":"30-12","html":"
A non-pro-rata split-off of a segment of a business in a corporate plan of reorganization shall be accounted for at fair value.
","snippet":"A non-pro-rata split-off of a segment of a business in a corporate plan of reorganization shall be accounted for at fair value.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:11091399cf76a9a709c5167cac74ac64b4a80df34f051cd244ee0f487d9bfc5d","downloaded_from":"2026-09-10T01:59:38.038Z","last_downloaded_at":"2026-09-10T01:59:38.038Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482911","source_sha256":"0788e7d51c0c7a4f4ab98d2c9317fd64f379838290da256a7cfd6bc5aa15ddd5"}},{"citation":"845-10-30-13","para":"30-13","html":"
A split-off of a targeted business, distributed on a pro rata basis to the holders of the related targeted stock, shall be accounted for at historical cost. If the targeted stock was created in contemplation of the subsequent split-off, the two steps (creation of the targeted stock and the split-off) cannot be separated and shall be viewed as one transaction with the split-off being accounted for at fair value.
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A dividend-in-kind recognized under paragraph 845-10-25-3 shall be measured initially at fair value by the entity and the recipient.
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