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FASB No. 153: Exchange of Nonmonetary Assets
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Author: Steven C. Fustolo, CPA
Description:
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.
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Course Details:
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Price: $24.00
Field of Study: Accounting
Prerequisites: None
Level: Overview
Advanced Preparation: None
Course was last updated on: 09/19/06
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Library:
Learning Center Core
Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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| Credit Available For: |
Units |
| CPE |
2.0 CPE |
| QAS |
2.0 CPE |
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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.
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