IFRS 16 Leases (Specimen 2)Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS 16 Leases (Specimen 2)This topic has 1 reply, 2 voices, and was last updated 3 years ago by Stephen Widberg.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts December 25, 2020 at 1:40 pm #600852 23.56ParticipantTopics: 8Replies: 5☆Given that there is a lease, when year-end cash payment occur.“The year-end cash payment should be removed from profit or loss and deducted from the carrying amount of the liability.”—Why year-end cash payment should be removed from SoPL? What do that means?When there is a payment, shouldn’t the double entry be like Dr Lease Liability Cr BankThank you. December 26, 2020 at 3:03 pm #600912 Stephen WidbergKeymasterTopics: 15Replies: 3333☆☆☆☆☆It is likely that the client has charged the cash payment as an expense in the P&L. So the expense needs to be reversed.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In