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ACCA FR考点：售后回租交易
文章来源：ACCA全球官网
发布时间：2021-09-16 11:08
阅读：1377次
Sale and leaseback transactions
1 Introduction
The treatment of sale and leaseback transactions depends on whether or not the‘sale’constitutes the satisfaction of a relevant performance obligation under IFRS 15–Revenue from Contracts with Customers.The relevant performance obligation would be the effective‘transfer’of the asset to the lessor by the previous owner(now the lessee).
2 Transaction constituting a sale
If the transaction does constitute a‘sale’under IFRS 15 then the treatment is as follows:
the seller-lessee shall recognise only the amount of any gain or loss that relates to the rights transferred to the buyer-lessor.
The buyer-lessor shall account for the purchase of the asset applying applicable Standards,and for the lease applying the lessor accounting requirements in IFRS 16(these being essentially unchanged from the predecessor standard).
If the fair value of the consideration for the sale of an asset does not equal the fair value of the asset,or if the payments for the lease are not at market rates,an entity shall make the following adjustments to measure the sale proceeds at fair value:
Any below-market terms shall be accounted for as a prepayment of lease payments;and
Any above-market terms shall be accounted for as additional financing provided by the buyer-lessor to the seller-lessee.
Example–sale and leaseback【点击免费下载>>>更多ACCA学习相关资料】
Entity X sells a building to entity Y for cash of$5 million.Immediately before the transaction,the carrying amount of the building in the financial statements of entity X was$3.5 million.At the same time,X enters into a contract with Y for the right to use the building for 20 years,with annual payments of$200,000 payable at the end of each year.The terms and conditions of the transaction are such that the transfer of the building by X satisfies the requirements for determining when a performance obligation is satisfied in IFRS 15-Revenue from Contracts with Customers.Accordingly,X and Y account for the transaction as a sale and leaseback.
The fair value of the building at the date of sale is$4.5 million.Because the consideration for the sale of the building is not at fair value,X and Y make adjustments to measure the sale proceeds at fair value.The amount of the excess sale price of$500,000($5 million-$4.5 million)is recognised as additional financing provided by Y to X.
The annual interest rate implicit in the lease is 5%.The present value of the annual payments(20 payments of$200,000,discounted at 5%)amounts to$2,492,400,of which$500,000 relates to the additional financing and$1,992,400($2,492,200-$500,000)relates to the lease(as adjusted for the fair value difference already identified).The annual payment that would be required to be made 20 times in arrears to repay additional financing of$500,000 when the rate of interest is 5%per annum would be$40,122($500,000/12.462(the cumulative discount factor for 5%for 20 years)).Therefore the residual would be regarded as a‘lease rental’at an amount of$159,878($200,000–$40,122).
Given the IFRS 15 treatment as a‘sale’B would almost certainly regard the lease of the building as an operating lease.This means that B would recognise the‘lease rentals’of$159,878 as income.
3 Transaction not constituting a‘sale’
In these circumstances the seller does not‘transfer’the asset and continues to reconise it,without adjustment.The‘sales proceeds’are recognised as a financial liability and accounted for by applying IFRS 9–Financial Instruments.In the same circumstances,the buyer recognizes a financial asset equal to the‘sales proceeds’.
Summary
The requirements of IFRS 16 will have significant impacts on key accounting ratios of lessees.The greater recognition of leased assets and lease liabilities on the statement of financial position will reduce return on capital employed and increase gearing.Initial measures of profit are likely to be reduced,as in the early years of a lease the combination of depreciation of the right of use asset and the finance charge associated with the lease liability will exceed the lease rentals(normally charged on a straight-line basis).
相关阅读：【ACCA FR考点：租赁准则】
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