Hi Tutor,
With reference to the technical article (https://www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-exams-study-resources/f7/technical-articles/accounting-for-leases.html) on Leases for split lease year treatment, is this how I look at the lease table headings?
Year 1 - Balance Fwd is 31 Mar 09 (Accounting year-end) and 30 Sep 09 (end of 1st year lease)
Year 2 - Balance Fwd is 31 Mar 10 (Accounting year-end) and 30 Sep 10 (end of 2nd year lease)
Hence, if Number Co entered into an agreement to lease a machine on 1 October 2005, is this how I look at it?
Year 1 - Balance Fwd is 31 Mar 06 (Accounting year-end) and 30 Sep 06 (end of 1st year lease)
till...
Year 5 - Balance Fwd is 31 Mar 10 (Accounting year-end) and 30 Sep 10 (end of 5th year lease)
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Leases - Lease table headings
That sounds to be good to me
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