What You Will Learn!
- Learn IFRS-16 Complete understanding of leases
- Lessee accounting and disclosure and Variable lease payments
- Lessee Accounting - Measurement of Right of Use Asset and Lease Liability
- Presentation and disclosure checklist for Lessor and Lessee
- A number of aspects on the practical application of IFRS 16 - Leases
Description
Course Introduction
Hello and welcome to the course!
This course, on the new leasing standard, is designed for both beginners and professionals.
All the concepts and terms used in this standard are covered and explained right from scratch, so irrespective if you are familiar with lease accounting or not, this course will help you to gain full understanding from the very basics.
Course Objective
The course covers in details the principle for measurement and recognition of leases as prescribed by IFRS under IFRS 16. The course focuses on the concepts of Right of Use Assets, Lease liability - the lease and the service contract.
IFRS 16 is a relatively new standard which has replaced the old standard IAS 17 - Leases
One of the main reasons of introducing IFRS 16 was to avoid "Off Balance Sheet Financing" which IAS 17 was unable to block. After the introduction of IFRS 16 businesses are now obliged to bring back all the assets on to their statement of financial position which previously were shown as operating leases and thus did not appear as assets or liabilities on the SOFP
It is a complete guide kit for those who want to learn the treatment of Revenue under IFRS 16. The course includes complete lecture video on standard as well as several questions, solutions and case studies.
Concepts like lease definition, present value of lease payments, implicit rate of interest in the lease, etc. are explained very clearly.
Who Should Attend!
- Accounting and Finance Professionals as well as students from ACCA, CIMA, CA, ICAEW,, CAT BBA, MBA and others studying Financial Accounting under IFRS