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An entity that engages in one or more nonmonetary transactions during a period shall disclose in financial statements for the period all of the following:
  1. a
    The nature of the transactions
  2. b
    The basis of accounting for the assets transferred
  3. c
    Gains or losses recognized on transfers.
Transition date:(P) December 16, 2026; (N) December 16, 2026Transition guidance:
220-40-65-1An entity that engages in one or more nonmonetary transactions during a period shall disclose in financial statements for the period all of the following:
  1. a
    The nature of the transactions
  2. b
    The basis of accounting for the assets transferred
  3. c
    Gains or losses recognized on transfers.
See paragraphs
220-40-50-21 through 50-25
for additional disclosure requirements.
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Paragraph superseded by Accounting Standards Update No. 2014-09.
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An entity shall disclose the amount of revenue and costs (or gains and losses) associated with inventory exchanges recognized at fair value.
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