{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/842/40/#15-scope-and-scope-exceptions","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"842","topic_title":"Leases","subtopic":"842-40","subtopic_title":"Sale and Leaseback Transactions","section":{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"842-40-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic; see Section 842-10-15.
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If an entity (the seller-lessee) transfers an asset to another entity (the buyer-lessor) and leases that asset back from the buyer-lessor, both the seller-lessee and the buyer-lessor shall account for the transfer contract and the lease in accordance with Sections 842-40-25, 842-40-30, and 842-40-50.
","snippet":"If an entity (the seller-lessee) transfers an asset to another entity (the buyer-lessor) and leases that asset back from the buyer-lessor, both the seller-lessee and the buyer-lessor shall account for the transfer contra…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4d9d9180180726faa815939d3de93e144fc741c9d6664d5e3bf381102146e8eb","downloaded_from":"2026-09-10T01:57:40.869Z","last_downloaded_at":"2026-09-10T01:57:40.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479541","source_sha256":"eec9e4289e8935e5936d29ffb0560b5193e10cfa3bd694968a1adca0775dcf55"}},{"citation":"842-40-15-3","para":"15-3","html":"
See paragraphs
842-40-55-1 through 55-21
for implementation guidance on the scope of this Subtopic. See Example 3 (paragraphs
842-40-55-39 through 55-44
) for an illustration of the scope of this Subtopic.
","snippet":"See paragraphs 842-40-55-1 through 55-21 for implementation guidance on the scope of this Subtopic. See Example 3 (paragraphs 842-40-55-39 through 55-44) for an illustration of the scope of this Subtopic.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eacf1a6bfc2b0e5af6eb65298222e64d1004e1200a2c2db8711d5e577aa5c74d","downloaded_from":"2026-09-10T01:57:40.869Z","last_downloaded_at":"2026-09-10T01:57:40.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479541","source_sha256":"eec9e4289e8935e5936d29ffb0560b5193e10cfa3bd694968a1adca0775dcf55"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7e9536d5bc6a5cd8fe29b36416b555b94e9899e61b503e09f02ed48e74169dfb","downloaded_from":"2026-09-10T01:57:40.869Z","last_downloaded_at":"2026-09-10T01:57:40.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479541","source_sha256":"eec9e4289e8935e5936d29ffb0560b5193e10cfa3bd694968a1adca0775dcf55"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dcbf1bfe3a648e6e04267613821be939ecbb105b41776cce3c14c457368792ee","downloaded_from":"2026-09-10T01:57:40.869Z","last_downloaded_at":"2026-09-10T01:57:40.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479541","source_sha256":"eec9e4289e8935e5936d29ffb0560b5193e10cfa3bd694968a1adca0775dcf55"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dcbf1bfe3a648e6e04267613821be939ecbb105b41776cce3c14c457368792ee","downloaded_from":"2026-09-10T01:57:40.869Z","last_downloaded_at":"2026-09-10T01:57:40.869Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479541","source_sha256":"eec9e4289e8935e5936d29ffb0560b5193e10cfa3bd694968a1adca0775dcf55"}}