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For a mid-year lease agreement, kaplan study text considers present year’s non-current lease liability as the subtotal (total lease liability B/F + time apportioned interest charge – interest payment made in mid-year) of the next year. To find the current lease liability, it subtracts non-current lease liability from present year’s total lease liability.
However, in ACCA study hub, they have simply considered the interest payment made in mid-year as the current lease liability.
Both the treatments, result in different answers. However, this is only the case for mid-year lease agreement i.e when the payments are made somewhere in between the year instead of at the very start or end of the year.
This is the only information provided that is related to associate
“On 1 October 20X3 Picant also acquired 40% of the equity shares of Adler paying $4 in cash
per acquired share and issuing at par one $100 7% loan note for every 50 shares acquired in
Adler. This consideration has also been recorded by Picant.”Here, they have mentioned that the consideration has been already recorded. So we will consider that loan note finance cost has also been recorded unless told otherwise. right?
