What is a non-monetary exchange?
A. A non-monetary exchange occurs when the University receives goods or services from an external entity in exchange for provision of goods or services, rather than paying for it in cash or monetary equivalent. Such exchanges may occur independently or as a secondary aspect of other kinds of transactions, such as sponsorship gift agreements, reductions in revenue received or costs incurred for monetary transactions, or gifts-in-kind. Back to top Q. Are trade-ins of equipment considered non-monetary exchange transactions? A. No. Trade-ins are accounted for as a part of the acquisition in valuing the new asset according to required accounting guidelines and are not considered a separate non-monetary exchange transaction. Back to top Q. Are discounts considered non-monetary exchange transactions? A. No. Discounts are offered by vendors for volume purchases or as a qualifying educational institution are considered a normal aspect of negotiating a monetary transaction. The University does n
