IAS 17 leases

chris09

Hi,

If I am given a lease payment in the trial balance would I need to deduct this amount from cash and cash equivalents to represent the payment in the statement of financial position?

any help would be greatly appreciated.

thanks

chris

Kelly7

I think it's highly unlikely they would put this in the statements for your exam. I have never seen this in any practice paper.

Clintm15

It would very much depend on if it was an operating lease or a finance lease. There would be 2 very different treatments.