IAS 17 leases

chris09
chris09 New MemberRegistered Posts: 6
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

Comments

  • Kelly7
    Kelly7 Well-Known Registered Posts: 218
    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
    Clintm15 Well-Known FarehamRegistered Posts: 247
    It would very much depend on if it was an operating lease or a finance lease. There would be 2 very different treatments.
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