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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Finance leases
Hey I am not able to distinguish between ncl and cl for finance leases otherwise I can do the entire calculation please help! x
In your workings, work out the overall obligation at the accounting date.
Then work out the obligation at the next accounting date.
This later calculation is the non-current figure
Deduct this later amount from the current obligation that you worked out first of all and the difference is the current liability
Does that help?
You mean closing balances right? so closing balance of first year take away closing balance of second is cl? or was that totally wrong? and does the above apply for advance payment too? Sorry I’m just really confused!
No, that’s exactly right
Calculate what is the CAPITAL amount outstanding at both year ends, take one from the other and Bob’s your uncle!
Even for advance payments? and Thank you!
Yes, even for advance payments 🙂
Sorry I have another silly question lol! For cashflows theres one bit I’m stuck on in a question called dickson .. with the cash and cash equiv b/f part : It states that the cash b/f is 117 and c/f is 29. In addition to that it states that the current asset investments are gov bonds and management has decided to class them as cash equivs. The investment figures are 46 b/f and 143 c/f! Lol please help! :/
So brought forward cash and cash equivalents are 117 + 46 = 163 and
Carried forward cash and cash equivalents are 29 + 143 = 172
Ok?
thats what I thought but they have done it as b/f is 109 and c/f is 40 o_o
There must be some other cash figure involved! Is there maybe an overdraft of $54 and $132?