CERTYNEX IFRS ACADEMY

Valtène transfers a data centre to Infrabail and leases it back for 10 years. The contract gives Valtène an option to repurchase the centre. The IFRS 15 analysis provided in the file concludes that, because of this option, control of the centre is not transferred to Infrabail. The finance director nevertheless wishes to recognise a sale, since the deed of transfer has been signed. Which conclusion do you adopt?

The transfer is a sale, since the deed of transfer has been signed and the price collected.

The transfer is not a sale: Valtène continues to recognise the centre and recognises a financial liability equal to the transfer proceeds.

The transfer is a sale, but only half of the gain on disposal is recognised because of the option.

The transfer is a sale if Infrabail classifies the leaseback as an operating lease.