Board discussion of situation when a contract is the purchase or sale of the underlying asset
22 January 2010
In January 2010, the Board discussed the situation when a contract is the purchase or sale of the underlying asset. The Board tentatively decided to exclude contracts that represent the purchase or sale of the underlying asset from the scope of the proposed new leases requirements at a previous meeting. The Board also discussed how to measure leases after initial recognition with options and contingent rentals under the amortised cost-based approach, whether to provide a concession for short-term leases and how to account for investment properties held by lessors.