Revenue from contracts with customers

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September 21, 2022 at 1:56 pm #666918
johnbriane
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If the sale and lease back contract does not constitute a sale, a financial liability equal to the transfer proceeds should be recognized right sir ?
September 22, 2022 at 8:52 pm #667029
P2-D2
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Yes, if there is no sale then we still have control of the asset and continue to recognise it in our accounts. The proceeds that we have therefore received are treated as a financial liability, effectively a form of finance for us.

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