I jsut finished the practice problems of the reading 28 non current liabilities.
I was quite confused by the answer of the question 21: “An operating lease is not recorded on the balance sheet (debt is lower), and lease payments are entirely categorised as rent (interest expense is lower.)”
I thought that under US GAAP and IFRS, all lease were now recorded in your liabilities (fact confirmed in the reading and in the exhibit 2). If I am wrong, could someone explain me?
Thanks a lot!