# ASC 845-10-50: Nonmonetary Transactions — Overall — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/845/10/#50-disclosure)

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## ASC 845-10-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/845/10/#50-disclosure)

SEC content: no

##### [845-10-50-1](https://asc.understandingaccounting.org/asc/845/10/#845-10-50-1)

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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:

[220-40-65-1](https://asc.understandingaccounting.org/asc/220/40/#220-40-65-1)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.
    

See paragraphs

[220-40-50-21 through 50-25](https://asc.understandingaccounting.org/asc/220/40/#220-40-50-21)

for additional disclosure requirements.

##### [845-10-50-2](https://asc.understandingaccounting.org/asc/845/10/#845-10-50-2)

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[Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).

### Purchase and Sales of Inventory

##### [845-10-50-3](https://asc.understandingaccounting.org/asc/845/10/#845-10-50-3)

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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.