# ASC 842-40-05: Leases — Sale and Leaseback Transactions — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/842/40/#05-overview-and-background)

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## ASC 842-40-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/842/40/#05-overview-and-background)

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##### [842-40-05-1](https://asc.understandingaccounting.org/asc/842/40/#842-40-05-1)

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This Subtopic addresses accounting for sale and leaseback transactions when a [lease](https://asc.understandingaccounting.org/glossary/l/#lease "A contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration.") has been accounted for in accordance with Subtopic 842-10 and either Subtopic 842-20 or Subtopic 842-30.