I have done a case study on "contract transfer of rights of use between commercial companies to InformaRec Bulletin Registry of Accountants Council of Economists of Spain. Bulletin no. 116 de18 March 2016.
From an accounting point of view, the problem of registration of contracts of transfer of use, is to consider the contract as a sale or a rental, so that:
1. Originator: You can record the operation in two ways:
- Consider it a rental and keep the asset in its heritage: Thus, the asset remains in the assets of the transferor, and accordingly all amounts received are considered as income for the year or for future years, on an accrual basis of the same, regardless of the time of collection.
- Consider it a sale, and therefore De-recognized the assets of his estate. So De-recognized records of its assets, and the consideration received such compensation is low, may emerge income or expense for valuation differences.
2. Transferee: There may also be two options:
- Consider it a rental. Not register the asset in its heritage, and consequently all the amounts paid are expended in the year or in future years on an accrual basis in the same regardless of the time of payment.
- Considering it a purchase. Register the asset in its heritage, so that the amount paid is the consideration for it.
All this depends on the accounting qualification to be granted the contract, depending on whether using the same control or not it is the transferee is transmitted. Is deemed to have been transferred control when the risks and rewards of ownership of the property significant benefits, regardless of their legal transmission are transferred, that is, mainly the law covers almost the entire lifetime of good.
We conducted a case study on these issues, which can be viewed.