IFRS 16 - Leases Box-Set

Quorum Training - A Wilmington Company
Course summary
3 hours
250 GBP excl. VAT
Online courses

Course description

IFRS 16 – Leases Box-Set

Speaker: Claire Dean

CPD Hours: 2.5

IFRS 16 replaces the current leasing standard IAS 17, and becomes effective for entities reporting on 31 December 2019 or later.  Most people are aware that it results in operating leases coming onto the balance sheet for the first time, however there are a lot of mis-conceptions.

Our box set consists of five essential webinars on IFRS 16 – Leases. These webinars will address questions on how companies identify all their leases and gather data required to calculate the necessary adjustments on transition and an on-going basis.

Webinar 1 

Introduction, principles and transitional rules on first-time adoption.

  • Introduce IFRS 16, discussing the effective date, before exploring its key principles and the transitional rules on first-time adoption.

Webinar 2 

Determining whether a contract contains a lease

  • Explore the idea that leases may exist in contracts that aren’t necessarily labelled as leases. We will see the criteria for determining whether a contract contains a lease.

Webinar 3

Accounting for leases by a LESSEE

  • Focus will be on the accounting for leases by a LESSEE. Considering how to initially measure the leased asset and lease liability, and then what happens at the end of each year to adjust the two carrying amounts.

Lesson 4 

Classification, accounting by a lessor for operating leases, finance leases

  • Our webinar provides an in-depth understanding of classification of leases and how this affects the accounting by lesser for operating leases, followed by that for finance leases.
  • Our experienced speaker will also focus on the accounting where a finance lease is provided by the manufacturer of that leased asset, or where the lessor is a dealer offering the customer the chance to pay cash or to lease the asset.

Lesson 5 

Exemptions, exceptions and accounting for transactions

  • Our experienced speaker explains the accounting by lessees applying IFRS 16 is fairly onerous.
  • Calculating the initial asset and liability, and regularly reassessing the estimates and assumptions is a big step-up from the former IAS 17 treatment for operating leases.
  • However, the non-accounting consequences must also be considered. As a lessee, bringing the lease liability onto your SFP can have a significant impact on debt covenants. And, as the asset depreciation and finance costs fall below EBITDA, it also changes the profile of your P&L.
  • Explore 3 exemptions and exceptions that can help simplify the accounting.
  • Accounting for transactions where an entity sells an asset and then leases it back.

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Quorum Training - A Wilmington Company

5th Floor, 10 Whitechapel High Street
E1 8QS London

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