IAS 17 leases

chris09
chris09 Registered Posts: 6 Regular contributor ⭐ 😼 ⭐
in AAT Level 4 (Level 8 in Scotland)
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 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 Registered Posts: 248 Dedicated contributor 🌟 🐵 🌟
    It would very much depend on if it was an operating lease or a finance lease. There would be 2 very different treatments.
    AAT
    Level 2 - 2011
    Level 3 - 2012
    Level 4 - 2013

    ACCA
    F4 - Corporate Law - Dec 2015 (passed)
    F5 - Performance Management - Dec 2014 (passed)
    F6 - Taxation - Dec 2013 (passed)
    F7 - Financial Reporting - Jun 2014 (passed)
    F8 - Audit & Assurance - Dec 2015 (passed)
    F9 - Financial Management - Jun 2015 (passed)

Categories

Privacy Policy