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In November 2020, the International Accounting Standards Board (Board) published the Exposure Draft Lease Liability in a Sale and Leaseback. The Exposure Draft specifies the method a seller-lessee uses in initially measuring the right-of-use asset and lease liability arising in a sale and leaseback transaction and how the seller-lessee subsequently measures that liability.

At its May 2021 meeting, the Board considered the feedback received on the Exposure Draft. The Board will consider the project’s direction at a future meeting.

IASB® Update May 2021

The Board met on 24 May 2021 to consider matters discussed at the April IFRS Interpretations Committee (Committee) meeting and other maintenance and consistent application matters. 

Attributing Benefit to Periods of Service (IAS 19): Finalisation of Agenda Decision (Agenda Paper 12A) 

The Board discussed whether any Board member objects to the Committee’s decision to publish Agenda Decision Attributing Benefit to Periods of Service (IAS 19 Employee Benefits). 

No Board member objected to the agenda decision. The agenda decision will therefore be published in May 2021 in an addendum to IFRIC Update April 2021.  

Hedging Variability due to Real Interest Rates (IFRS 9): Finalisation of Agenda Decision (Agenda Paper 12B)

The Board discussed whether any Board member objects to the Committee’s decision to publish Agenda Decision Hedging Variability due to Real Interest Rates (IFRS 9 Financial Instruments).  

No Board member objected to the agenda decision. The agenda decision will therefore be published in May 2021 in an addendum to IFRIC Update April 2021

Lease Liability in a Sale and Leaseback: Feedback Summary (Agenda Papers 12C–12E) 

The Board discussed a summary of feedback on its Exposure Draft Lease Liability in a Sale and Leaseback.  

The Board was not asked to make any decisions.    

IFRIC Update (Agenda Paper 12F)

The Board received an update on the Committee’s April 2021 meeting. Details of this meeting were published in IFRIC Update April 2021

The Board was not asked to make any decisions.

Next milestone

Decide Project Direction


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