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IFRS-16 Splitting of liability

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS-16 Splitting of liability

  • This topic has 3 replies, 2 voices, and was last updated 3 years ago by Stephen Widberg.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • September 5, 2021 at 10:52 am #634419
    aadil1234
    Member
    • Topics: 75
    • Replies: 104
    • ☆☆

    Sir does IFRS-16 still requires us to split liability in current and non-current liability and if its an option than what’s the other treatment when we don’t want to split the liability.

    Another Question is that we make an entry in subsequent years (For e.g: Year 1) that is;

    Finance Cost xxx Dr.
    Lease liability xxx Dr.
    Bank xxx Cr.

    Than what entry will we make to split the liability in Year 1.

    September 6, 2021 at 3:53 pm #634589
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    One question per post please!

    You are supposed to split the liability, but you probably won’t have time. S don’t worry about it.

    If you want practice you can review our FR leasing lecture.

    MOST IMPORTANTLY OF ALL – DON’T answer the exam by writing out lists of journals!

    September 6, 2021 at 5:47 pm #634613
    aadil1234
    Member
    • Topics: 75
    • Replies: 104
    • ☆☆

    OK Thank you 🙂

    September 7, 2021 at 10:58 am #634709
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    My pleasure

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘IFRS-16 Splitting of liability’ is closed to new replies.

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