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CPA staff accountants building a review-ready ASC 845 nonmonetary transaction file from transaction scope and commercial substance through fair value, carrying-value exceptions, boot, partial gains, transfers, and disclosure
11 Sep

Nonmonetary Transaction Accounting Training: Build ASC 845 Judgment for Exchanges and Transfers

Accounting Workforce Development

By Vincent Howard, CPA | Managing Partner, Howard, Howard and Hodges | SkillAbility for Accounting Firms Last updated: September 11, 2026  |  44-minute read TL;DR — The Short Answer ASC 845 training should teach accountants to prove why an exchange is at fair value or carrying amount—not memorize that “like-kind assets use book value.” Under

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