CEVAP:

As we have noted, companies can dispose of long-lived assets by exchanging (trading) them for another
long-lived asset such as an old machine for a new one. Basically, accounting for exchanges of long-lived
assets is similar to accounting for sales of long-lived assets for cash. But there are some special rules for
exchange of long-lived assets such as deciding about the commercial substance of exchange. In accounting for such exchanges of non-monetary assets, we need to find out if the transaction has commercial substance.
An exchange has commercial substance if the future cash flows change as a result of the exchange.13
In other words, an exchange has commercial substance if the future cash flows (receipts of revenue or
payment of expenses) of the company will change because of the exchange.14 For example, when exchange
of an older machinery for a new machinery will increase productivity and thereby create more revenue for the company, this exchange has commercial substance.
If exchanges have commercial substance (which is when there is a change in cash flow resulting from
the transaction), the parties should recognize a gain or loss on the exchange. The old asset will be removed from the accounting books, and the new asset will be recorded at its market value. Most of the exchanges have commercial substance (even when similar assets are exchanged).
If exchanges do not have commercial substance, ignore any gain or loss on the transaction (there are
a few exceptional situations) and record the acquired asset at the book value of the asset given up in the
exchange plus cash paid and minus cash received instead of at market value.