CERTYNEX IFRS ACADEMY

An entity acquires an intangible asset in exchange for another intangible asset. The analysis concludes that the transaction lacks commercial substance. At what amount is the asset received measured?

At the fair value of the asset received, as estimated by an independent valuer

At the fair value of the asset given up at the date of the exchange

At the carrying amount of the asset given up

At nil, since no cash was paid out