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Hello Mike,
I remember you ever mentioning rule of 72 in one of the vedios when I was studying F7. I really want to watch that vedio again. I know it’s related with calculating interest. But there are so many vedios, so it takes time to watch through all of them. I would be very grateful if you have a clue where it was mentioned or where it might be mentioned.
Thank you so much!
Hi – it’s the rule of 78! And it’s in leasing – it’s a rule of spreading the interest on a finance lease. It’s also known as the sum of the digits method and whereas Steve Scott has said that he will not ask for lease interest to be calculated using this method, he DID say that he could ask a question where depreciation was based on the sum of the digits / rule of 78
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Yes, it’s found in the lecture – IAS 17 leases introduction, at 20:10.
Thank you so much!
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Hi Mike, I’d like to share with you my happiness of passing F7. All credit goes to you! Thank you for all your help!
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