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Sale and finance lease back

This topic has 1 reply, 2 voices, and was last updated 11 years ago by MikeLittle.

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April 17, 2013 at 7:10 pm #122761
rimx
Participant
- Topics: 31
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Hey Mike,
In a sale and finance lease back how the substance of the transaction shall be accounted ? will it be accounted as a loan as a result of the sale charging interest to it or according to IAS 17 ?
Thanks.
April 18, 2013 at 4:42 pm #122817
MikeLittle
Keymaster
- Topics: 27
- Replies: 23203
Sale and finance lease back is Dr Cash and Credit Finance lease Obligation account
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