Write a memo to your CFO. Include discussion of each of these points: How the sale portion of the sale-leaseback transaction should be accounted for at the lease's inception. How the gain on the sale portion of the sale-leaseback transaction should be accounted for during the lease. How the leaseback portion of the sale-leaseback transaction should be accounted for at the lease's inception. The conceptual basis for capitalizing certain long-term leases