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Dear Sir,
I do not understand the logic behind the split in the current and non current portion of the lease liability when payment is in advance and in arrears,please explain this in a understandable way
Thank you
Splitting up the liability between current and non-current is important when you do Financial Reporting but not really important for this exam
As long as you can calculate the total liability you will be fine
Strictly speaking the current liability portion will be payments next year minus any interest accruing between the start of next year at the date of the last payment next year
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