Exchange of Nonmonetary Assets (Financial Accounting)

This video explains how to account for exchanges of nonmonetary assets (such as one company swapping trucks with another company). The general rule is to record the asset received at its fair market value and book any gain or loss, unless one of three exceptions applies. The example presented in this video shows the accounting treatment for both firms in the situation where fair market value is used and a gain is recorded.

Edspira is your source for business and financial education. To view the entire video library for free, visit

To like us on Facebook, visit

Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael’s life is to increase access to education so all people can achieve their dreams. To learn more about Michael’s story, visit

To follow Michael on Facebook, visit

To follow Michael on Twitter, visit

Nguồn: https://haitivolunteer.org

Xem thêm bài viết khác: https://haitivolunteer.org/tong-hop/