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IAS 17 Leases: Sales and Leasebacks with Repurchase Right
Issue Description Whether a sale should be recognised in a sale and leaseback containing a repurchase agreement (including an option), if the seller retains significant risks or rewards under the repurchase agreement. Discussion at the IFRIC Meeting May 2004 The IFRIC agreed no sale should be recognised in a sale and leaseback containing a repurchase agreement (including an option), if the seller retains significant risks or rewards under the repurchase agreement. This is because a sale containing such a repurchase agreement is not a sale under IAS 18 Revenue. IFRIC will consider a draft interpretation at a future meeting. Discussion at the IFRIC Meeting March 2007 Project removed from IFRIC agenda.

IAS 17 Leases: Sales and Leasebacks with Repurchase Right

Issue Description

Whether a sale should be recognised in a sale and leaseback containing a repurchase agreement (including an option), if the seller retains significant risks or rewards under the repurchase agreement.

Discussion at the IFRIC Meeting May 2004

The IFRIC agreed no sale should be recognised in a sale and leaseback containing a repurchase agreement (including an option), if the seller retains significant risks or rewards under the repurchase agreement. This is because a sale containing such a repurchase agreement is not a sale under IAS 18 Revenue.

IFRIC will consider a draft interpretation at a future meeting.

Discussion at the IFRIC Meeting March 2007

Project removed from IFRIC agenda.

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