CERTYNEX IFRS ACADEMY

The conclusion of the IFRS 15 analysis of a sale and leaseback governs the whole of its subsequent accounting. Which statements about the consequences of that conclusion are correct?

If the transfer is a sale, the seller-lessee recognises a right-of-use asset arising from the leaseback and only a portion of the gain or loss on disposal.

If the transfer is a sale, the seller-lessee recognises the whole gain or loss on disposal, the leaseback being accounted for separately.

If the transfer is not a sale, the buyer-lessor recognises the transferred asset and leases it out.

If the transfer is not a sale, the seller-lessee keeps the asset and recognises a financial liability equal to the transfer proceeds.