Articles | Open Access |

ACCOUNTING FOR SALE AND LEASEBACK UNDER IFRS

Chorshanbiev Umurzak Kaynarovich,Lobar Muratjanova Muratjanovna , Gulistan State University

Abstract

This article discusses the procedure for accounting for the sale of fixed assets and leasing them back according to International Financial Reporting Standards (IFRS). The problem with this topic is that the issue of sale and leaseback is not currently applied in the practice of Uzbekistan and is new to us. The authors examined this issue in detail in the article with examples and accounting records. The tables presented were compiled by the authors of the article. The forms of the statement of financial position and the statement of profit or loss and other comprehensive income in a shortened form are taken from international practice in preparing financial statements. To resolve the issue, the double entry method in accounting was used. The merit of the authors is that the issue under consideration with examples, tables and report forms was made available to Uzbek accounting practitioners and other interested parties.

 

Keywords

sale and leaseback; seller-tenant; buyer-lessor; the transfer of an asset is not a sale; the sale price corresponds to the fair value of the asset; the sale price is greater than the fair value of the asset; the sale price is less than the fair value of the asset; rights to the asset remaining with the seller-lessee; rights to the asset transferred to the buyer; lease obligation; financial obligation; additional funding; subsequent accounting; sale and leaseback transactions prior to the date of initial application.

References

IAS (2015) IFRS (IAS) 16 "Property, property, plant and equipment". Prilozhenie #8 k prikazu Ministerstva finansov Rossiyskoy Federatsii ot 28.12.2015 #217n.

ASSA DipIFR (2018) Uchebnoe posobie ASSA DipIFR. - M.: - 612 p.

Berdichevskaya V.O. (2017) Transformation finansovoy otchetnosti v MSFO: uchebnoe posobie / V.O. Berdichevskaya; Yarosl. Mr. un-t im. P. G. Demidova. - Yaroslavl: YarGU, - 204 p. MSFO (IFRS) 15 "Vyruchka po dogovoram s pokupateliyami". Prilozhenie #5 k prikazu Ministerstva finansov Rossiyskoy Federatsii ot 27.06.2016 #98n.

IFRS 16 "Lease". Prilozhenie #1 k prikazu Ministerstva finansov Rossiyskoy Federatsii ot 11.06.2016 #111n.

IFRS 9 "Financial Instruments". Prilozhenie #1 k prikazu Ministerstva finansov Rossiyskoy Federatsii ot 27.06.2016 #98n.

Teterleva A.S. (2016) International financial reporting standards: [ucheb. posobie] / A.S. Teterleva; M-vo obrazovaniya i nauki Ros. Federatsii, Urals. feder. flour – Yekaterinburg: Izd-vo Ural. flour, - 176 p.

Article Statistics

Downloads

Download data is not yet available.

Copyright License

Download Citations

How to Cite

ACCOUNTING FOR SALE AND LEASEBACK UNDER IFRS. (2025). International Journal of Artificial Intelligence, 5(10), 1101-1110. https://www.academicpublishers.org/journals/index.php/ijai/article/view/7032