IFRS 16 - Leases in Practice
What you'll learn
- Detailed guide on the scope, Identification of Lease, Lease Term, Accounting by Lessee and Lessor
- A number of aspects on the practical application of IFRS 16 - Leases
- Illustrative examples accompanying all the concepts in IFRS 16 - Leases
- Presentation and disclosure checklist for Lessor and Lessee
This course includes
· Detailed guide on
- Objective and Scope of IFRS 16 - Leases including recognition exemptions
- Identifying a Lease contract, the framework to check if the contract contains a lease, distinguish a lease contract from service contracts.
- Determine the Lease term, the extension of the lease term, Lessee and Lessor termination options
- Classification of the Lease by Lessee, Initial measurement of the Lease liability, and the ROU asset.
- Accounting by Lessees including initial and subsequent measurement, case study to determine Lease liability, ROU asset, Amortization schedule, and journal entries to be recorded at the beginning and the end of the period.
- Subsequent measurement and accounting for the change in the lease term
- Classification of Lease by Lessor, Situations that will generally lead to finance lease classification, Lease of land and buildings
- Subleases, Sublease classified as Finance Lease
- Accounting of Finance Lease by Lessor and its subsequent measurement
- Accounting of Operating Lease by Lessor and its subsequent measurement
- Sale and Leaseback Transactions with an illustrative example
- Disclosure requirements for Leases in both qualitative and quantitative form.
· A number of aspects on the practical application of IFRS 16 – Leases
· Illustrative examples accompanying all the concepts in IFRS 16 – Leases
· Presentation and disclosure checklist for Lessor and Lessee
Who this course is for:
- Finance and Accounting Professionals, Auditors
I am a qualified chartered accountant with almost 12 years of experience in the Audit and Industry. I have started my career with Deloitte and have worked in the manufacturing and service sectors. I have working knowledge and experience in Auditing, Finance, Accounting, Financial Planning, and Analysis areas. I believe in Continuous learning and career development.