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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Has the OT P2 study text already been updated to reflect the new standard?
In my understanding, and according to your notes, all leases are going to be recognised as finance leases as per the new standard
Why then have you explained in the notes how to classify between operating leases and finance leases?
Will we still be tested on the old standard?
Hi,
All leases under lessee accounting are recognised in the financial statements.
Under lessor accounting the rules are still the same and refer to finance and operating leases
Thanks