[Anonymous]

I am having trouble understanding how to record donated assets for governmental accounting (not NFP).
Only donated capital assets are recorded at cost and others at FV?

From NINJA FAR Book:

“Donated capital assets, donated works of art, historical treasures, and capital assets received in a service concession arrangement are measured at acquisition value.”

“General capital assets purchased or constructed by a government usually are recorded at the purchase of construction cost. However, assets donated to the government are recorded at fair market value when donated.”