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I didn’t understand this concept of sale n leaseback…how to identify if the transfer is the sale or not…
When the say that if the transfer is sale it should meet the Ifrs 15 revenue s criteria…what does it mean….am confused …plz brief on it
Crystal Palace own football stadium with life of 40 years.
A. Sell and lease back for 10 years – this is a genuine sale and leaseback, so all the (complicated) rules apply.
B. Sell and lease back for 40 years – this is NOT a genuine sale and leaseback, so it would be booked as a loan secured on the asset. PPE not derecognised.