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Hi Mr. Mike,
I had a question regarding Leases.How do we account for when a dealer or manufaacturer gives us a option of buying or leasing.how do we show this in the FS.
I don’t honestly know! And I don’t remember this point ever being in an exam question. I could guess and say that it should be shown as an asset at a value ( which the examiner would give you ). However, I’ll need to apply my mind deeply to the problem of where the credit entry would be – maybe credited within SoCI.
BUT THAT’S ALL GUESS WORK – sorry 🙁
Hi MR. Mike
Thankyou Mr. Mike i will try to see the Standard which i got from IASplus may that might help.
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