BC261 The IASB decided that, within the context of a sale and leaseback transaction, the transfer of an asset is accounted for as a sale only if the transfer meets the requirements in IFRS 15 for the transfer of an asset. In the IASB’s view, applying the recognition requirements of IFRS 15 to sale and leaseback transactions will be beneficial for both preparers and users of financial statements because it will increase comparability between sales entered into as part of sale and leaseback transactions and all other sales. The IASB observed that, in considering whether a transaction should be accounted for as a sale and leaseback transaction, an entity should consider not only those transactions structured in the form of a legal sale and leaseback, but should also consider other forms of transactions for which the economic effect is the same as a legal sale and leaseback (for example, a sale and leaseback transaction may be structured in the form of a lease and lea
…Version date: 26 February 2020 - onwards
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