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Hi tutors,
In which circumstances the transfer of the asset is not considered as a sale under IFRS 15?
Thank you.
I think you go back to basics of transfer of risks and rewards
If the ‘buyer’ gets no rewards from directly using the physical asset, then the transaction is just a secured loanExample
I sell my house to the bank and rent it back for 50 years – after 50 years I get the house back, and occupy it for the whole time period
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