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FASB No. 153: Exchange of Nonmonetary Assets

Steven C. Fustolo, CPA

FASB No. 153, Exchange of Nonmonetary Assets was issued December 2004. The objective of FASB No. 153 is to address the measurement of exchanges of nonmonetary assets.

Specifically, it: eliminates the exception from fair value measurement for nonmonetary exchanges of similar productive assets found in APB No. 29, Accounting for Nonmonetary Transactions; and introduces a new exception to the fair-value measurement for nonmonetary exchanges that lack commercial substance.

This course is designed to bring you up to date on accounting standards related to the exchange of nonmonetary assets and familiarize you with how to compute these exchanges under the new rules.

Course Details
Price:  $24.00
Field of Study:  Accounting
Prerequisites:  None
Level:  Overview
Course was last updated on:  09/19/06
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Library:
Accounting and Audit

Technical Requirements:
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Credit Available For: Units
CPE 2 CPE
QAS 2 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

User Reviews
Reviewer: Pietrangelo F. submitted on 07/06/2009
examples
Reviewer: Brian K. submitted on 06/12/2009
Simple, but very good examples.
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